The U.S. House Financial Services Committee GameStop hearing kicks off at 12 p.m. ET. on Thursday.
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 lawmakers about last month’s GameStop trading turmoil.
In January, an epic short squeeze in GameStop’s stock shocked Wall Street and drew attention to an emerging class of retail investors on social media platforms. GameStop’s share price sky-rocketed to $483 per share, and subsequently lost 90% of its value.
Lawmakers will get a chance to grill the company chiefs about Citadel’s relationship with Robinhood and Melvin Capital, why some brokerages restricted trading and how to protect retail investors.