Robinhood, Citadel, Melvin Capital CEOs to testify in Congress on GameStop turmoil

FILE PHOTO: A 3d printed Robinhood logo is seen in front of displayed GameStop logo in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration

WASHINGTON (Reuters) – The chief executive officers of Robinhood, Citadel, Melvin Capital and Reddit will testify before the U.S. House Financial Services Committee on Feb. 18 on the trading turmoil in GameStop Corp and other stocks, the panel’s chairwoman, Representative Maxine Waters, said on Friday.

The committee is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares.

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