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“# Robinhood CEO calls on SEC to revise ‘outdated’ trading rules ” United States lawmakers are set to grill Robinhood CEO Vlad Tenev over the GameStop trading frenzy at a Congressional hearing later today. In his prepared remarks, Robinhood CEO appeared to place responsibility for the platform’s stock trading suspensions on the U.S. Securities and Exchange Commission….
“#Melvin Capital’s Gabe Plotkin was target of anti-Semitism” The head of the hedge fund at the center of last month’s GameStop frenzy says Redditors targeted him with anti-Semitic insults and text messages. Melvin Capital founder Gabe Plotkin made the disturbing claim in prepared testimony he plans to deliver at Thursday’s House Financial Services Committee hearing…
“#‘Roaring Kitty’ Keith Gill defends his GameStop posts amid lawsuit” A star Reddit trader known as “Roaring Kitty” plans to defend his bullish GameStop calls in front Congress one day after being slapped with a lawsuit for his role in the trading frenzy. The trader, whose real name is Keith Gill, is set to testify…
“#Is Elon Musk the new stock market oracle?” Has the “Oracle of Omaha” Warren Buffett been replaced by Elon Musk, the “Oracle of Memes”? The futurist billionaire, chief executive of Tesla and SpaceX, and world’s richest person is now also able to move markets, from cryptocurrencies to actual stocks, using a single tweet. It’s a…
“#Why GameStop decided not to cash in on Reddit rally: report” GameStop considered cashing in on the recent Reddit-fueled rally in its stock price — but regulatory concerns stopped the retailer from pulling the trigger, a new report says. The Texas-based video-game chain weighed the possibility of selling new stock as rookie traders on Reddit’s…
“#Massachusetts regulators subpoena GameStop bull ‘Roaring Kitty’” Massachusetts securities regulators have issued a subpoena seeking the testimony of a YouTube streamer who helped drive a surge of interest in GameStop as part of a review of his registration, including his “outside business activities,” an official said Wednesday. The office of the Secretary of the Commonwealth…
“#Ken Griffin expected to testify at House ‘Reddit Rally’ hearing” Congress is eyeing both Main Street and Wall Street to testify at its upcoming “Reddit Rally” hearing, including billionaire trader Ken Griffin. The hearing before the House of Representatives on Feb. 18 is expected to include testimony from Griffin, founder and CEO of investment giant…
“#GameStop shares tumble as Reddit-rally surge dies down” Shares of video game retailer GameStop tumbled nearly 20 percent Tuesday to their lowest levels since the start of a retail investor-led surge that echoed across Wall Street. Investors who followed the popular Reddit forum WallStreetBets helped push shares of GameStop to a closing high of $347.51…
“#’Reddit Rally’ yields 2 book deals, 3 movie deals in wild week” The media frenzy on the so-called “Reddit Rally” is almost as wild as the stock market gyrations that have gripped GameStop and AMC over the past two weeks. So far, at least two book deals and three movies deals are in the works….
“#Reddit doubles valuation to $6B amid WallStreetBets frenzy” Reddit has doubled its valuation to $6 billion as the social network’s role in the recent stock market revolution thrust it into the spotlight. San Francisco-based Reddit said Monday that it raised more than $250 million in additional funding from a group of new and existing investors…