Hedge funds, Robinhood face grilling by Congress over GameStop Reddit rally
Hedge funds, Robinhood face grilling by Congress over GameStop Reddit rally
WASHINGTON (Reuters) - Wall Street hedge fund managers, the chief executives of Robinhood and Reddit, and a YouTube streamer known as Roaring Kitty face a grilling on Thursday afternoon from U.S. lawmakers over the Reddit rally in shares of GameStop Corp.
Some of Wall Street’s most powerful players, including billionaire Republican mega-donor and Citadel CEO Ken Griffin, will make rare public statements about their business practices during the Congressional hearing on how Reddit users trading on retail platforms banded together to squeeze hedge funds that had bet against shares of the video game retailer and other companies.
Griffin will appear before the Democratic-led House finance panel alongside Robinhood CEO Vladâ
