Reddit may side with individual investors and Robinhood will explain why it restricted trading.
The House
Committee on Financial Services today will grill the power players involved in last month s GameStop trading frenzy.
The CEOs of Reddit, Robinhood, Melvin Capital, and
Citadel will testify following an unexpected rally of GameStop stock driven by individual investors.
Lawmakers criticized these firms after some retail investors, including members of a popular Reddit forum r/WallStreetBets, invested in GameStop to burn institutional investors who bet against the stock. The trading frenzy caused GameStop shares to surge 2,000% month-to-date on January 29 and caught the attention of Elizabeth Warren, Alexandria Ocasio-Cortez, and Ted Cruz.
Youngstown mayor to testify in DC hearing on COVID relief needs wfmj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wfmj.com Daily Mail and Mail on Sunday newspapers.
A historic housing crisis has America in its grip. Can Marcia Fudge save the day? Deborah Barfield Berry and Romina Ruiz-Goiriena, USA TODAY
Rep. Marcia Fudge speaks after being nominated HUD secretary by then President-Elect Biden
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WASHINGTON It was around dusk when about 15 of Marcia Fudge’s sorority sisters gathered on the deck of a friend’s house in Warrensville Heights, Ohio.
It had been a tough day. They had attended the funeral of U.S. Rep. Stephanie Tubbs Jones, a fellow member of Delta Sigma Theta. Fudge, a close friend and former chief of staff for Tubbs Jones, told them that August day in 2008 that some power brokers had urged her to run for the congressional seat.
WASHINGTON It was around dusk when about 15 of Marcia Fudge’s sorority sisters gathered on the deck of a friend’s house in Warrensville Heights, Ohio.
It had been a tough day. They had attended the funeral of U.S. Rep. Stephanie Tubbs Jones, a fellow member of Delta Sigma Theta. Fudge, a close friend and former chief of staff for Tubbs Jones, told them that August day in 2008 that some power brokers had urged her to run for the congressional seat.
She thought maybe she could protect the legacy of Tubbs Jones.
Fudge had been mayor in Warrensville Heights, a city of fewer than 14,000 people. A congressional campaign would require a huge war chest.