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USA TODAY For one shining moment in January, it looked as if the stock trading app and retail brokerage Robinhood had lived up to its namesake – the rabble-rousing outlaw of English folklore. In the hands of a merry band of Reddit traders, Robinhood helped to bring a group of short-selling hedge funds to their knees and many people cheered – delighted to see wealth stripped from a few members of the billionaire class after decades in which wealth has been increasingly consolidated in the hands of the very few. "Our customers have shown the world that investing is for everyone," Robin...

It seemed inevitable that the populist forces that have disrupted almost everything else in recent years would eventually arrive to democratize investing. But the sheer impact of retail trading has been shocking, primarily to financial professionals who appeared ill-equipped to deal with it. Organizing via social media, the amateurs have been able to send so-called “meme stocks” like GameStop Corp. soaring, while hedge funds that bet against the chosen companies feel the pain. Some worry that th

Lawmakers will get their chance to grill the CEOs, as well as the Reddit trading star known as Roaring Kitty, about last month's GameStop trading turmoil. Robinhood CEO Vlad Tenev, Melvin Capital CEO Gabriel Plotkin, Reddit CEO and co-founder Steve Huffman, Citadel CEO Kenneth Griffin and Keith Gill, also known as Roaring Kitty, will testify to the U.S. House Financial Services Committee on Thursday at 12 p.m. ET, according to a release from Chairwoman Maxine Waters, D-Calif. "We think the congressional hearing will focus on understanding exactly what occurred during the week of service disru...

Members of the United States House Committee on Financial Services are going head to head on Thursday with top executives from key stakeholder firms in the GameStop trading frenzy. The inquiry aims to shed light on the hazy sequence of events that precipitated the ascent and rapid decline of the struggling video-game retailer’s share price just weeks ago, when it rocketed from $17.25 on January 1 to $347.51 on January 27 – then plunged to hover near $50 since then. Individual retail investors, taking their cue from posts on social media sites such as Reddit, combined in a rarely seen move...

While new information was limited, some clarity on Robinhood’s restriction of trades and Citadel’s role in payment for order flow came to the surface.