Executives at the heart of the GameStop trading saga – including Reddit and Robinhood, as well as hedge funds Melvin Capital and Citadel – will testify before Congress next week, the House Financial Services committee announced on Friday.
Why it matters: The virtual audience is the first since the explosion of Reddit’s stock trading frenzy that pushed stocks like GameStop and AMC Entertainment to meteoric heights – and the first time that some of these executives will speak publicly about it.
Who is witnessing:
- Vlad Tenev, Robinhood CEO
- Steve Huffman, CEO of Reddit
- Ken Griffin, CEO of Citadel (and owner of Citadel Securities, the market maker that operates separately from the hedge fund)
- Gabe Plotkin, CEO of Melvin Capital Management
- Keith Gill, investor r / WallStreetBets (better known as “Roaring Kitty” or “DeepF — kingValue”)
worthless: The committee said that “additional witnesses may be announced.”
The final result: The negotiation craze has failed, but it still has the attention of Congress and regulators.
What is the next: The audience – entitled “Jogo Parado? Who wins and loses when short sellers, social media and retail investors clash ”- is scheduled for next Thursday, at 12pm ET