Analysis

What To Expect When Reddit And Robinhood Face Congress

Law360 (February 17, 2021, 10:27 PM EST) -- It's been three weeks since GameStop's share price spiked to a record high of $483, more than 10 times the price it closed at Wednesday, and the U.S. House Financial Service Committee is aiming to get some answers Thursday on exactly how that happened.

The chief executives of online trading platform Robinhood, the social forum site Reddit and hedge funds Citadel LLC and Melvin Capital Management LP are among those set to testify about their involvement in the imbroglio surrounding GameStop and other stocks that were caught in a late-January trading war between independent retail investors and short-selling hedge funds....

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