A Congressional hearing into the GameStop mania that triggered the largest weekly selloff since late October is underway, with some of the key players in the saga—billionaire Citadel CEO Kenneth Griffin, Robinhood CEO Vladimir Tenev, Reddit Cofounder Steve Huffman and the 34-year-old securities broker behind the Roaring Kitty online persona—all set to testify.
"We always felt comfortable with our liquidity," Tenev responded, dodging requests from Waters and other committee members for a simple yes-or-no answer. Griffin, meanwhile, said he learned of Robinhood's trading restrictions on meme stocks only after they were first imposed, throwing cold water on online speculation that Robinhood and Citadel coordinated on the decision beforehand.
"We simply play by the rules of the road," Griffin said of the payment-for-order-flow business model that allows Robinhood to make money by directing its orders to market-makers like Citadel Securities, which then helps execute the trade between buyers and sellers. Asked about whether Elon Musk drove up the price of GameStop shares with a simple “Gamestonk!!” tweet on January 26, Melvin Capital CEO Gabriel Plotkin, whose hedge fundReferencing the SEC’s pending investigation on the matter, Jennifer Schulp, the Cato Institute's director of financial regulation studies, said there's"been little evidence" that Reddit traders engaged in false or deceptive behavior, which would be required to conclude that they manipulated the market.
To hell with him and to hell his platform. Seeya!
Screw RH $ ozsc to the moon this week
So there was no manipulation when they just block the 'buy' and not the 'sell' button but it is when the people buys alot of a good stock than the rich didnt have on they radar, and the law can be broken with just one apology as punishment
EmilioBf
Jail
where are their charges ? the actively manipulated the stock price by stopping all buying. that is 1000% illegal. its the stock market, you play, you lose. either its a free market or its not. this is huge and nobody should be taking the pressure off these guys.
He’s not apologising the users, he’s apologising the customers. Those who pay for the data. Those who were losing out. Smoke and mirrors. Credibility gone.
Bullshit
An arrogant con, he never answered a damn question.
He apologized for not stopping trading soon enough. His bosses were watching :D
And what about the $AMC They halted trading just as it had reached 20 dollars a share
It's too late to apologize. You can't cheat us out of thousands and thousands of dollars and then just say 'sorry'. Suck nuts, bitch.🖕
This was so funny to watch. Im not a cat and i like the stock. doge amc ilikethestock
He can apologize by writing checks to all those he shut out from trading otherwise he's just another empty husk.
LIES
That's so BS from him. Robinhood didn't let their customers to buy more GME stocks, they could only sell them. This is a big proof that it was rigged.
RobinhoodApp customer service is terrible. I waited 10 days for a bullshit response where they acted like they were helping but only gave me the same generic error message that I already had. They won’t let me leave!
sure. senate dictated to you. If you attack to achill of money, they say 'or what'
[]/[]/][/;] live_653615076_zwHqVIbIsU1eO7dztCLjZdlIWZZ4xm
It’s too late for that! Your company’s done.
robinhood is a scam to sell data to day traders to give them an edge. They took criminal actions to protect their hedge fund clients. some charges need to be laid.
Wait, I think he didn’t answer any of the questions 😂
Who do they consider to be their actual customers?
So when I break the law I just need to apologize 👌
he can say i'm sorry by paying me the millions he cost me
So he apologizes to Citadel? Because that’s who his real customer is. The users are the product.
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this is terrible news
Lesson learned RobinhoodApp !
They do it on purpose at first then apology after.
and these are the alpha signals explaining the BUY prediction for $GME, which is calculated by our Artificial Intelligence algorithms based on the probability of beating the market in 90 days:
Despite all the drama, $GME remains a BUY (Smart Score 7/10) since the dip, based on our Explainable AI technology which analyzes more than 900 Fundamental, Technical, and Sentiment indicators to rate stocks:
Why are you giving another platform for Keith Gill to scam people
From the time in Jan. when this pyramidscheme gained attention, AOC used it to criticize Wall Street, which is ridiculous. GME is reddit's problem. Steve Huffman is the only CEO who should have been called to testify. He let reddit become an echo chamber & perpetuate gme scam
The 'diamond hands' will get back pennies on their lost dollars while their attorneys will rake it in for owning KG in court.
Pump and dump
Future looks promising for GameStop..... $GME
TheRoaringKitty Bro. You absolutely crushed it (imo). Man of the people. legend. Game is changing...slowly but surely. The year was 2019 and Iike(d) the stock.
I like GAMESTOP because it caused Wall Street nose bleeding 🩸.
Haha! Keep dreaming. GameStop can’t do anything else right now and cannot afford to acquire a gaming company. It’s foolish to think current price is worth it. Watch earnings EPS to see why it’s always going to be a $10 and under stock. Puts have been the easiest profit
Zcash ZEC ElectricCoinCo 🛡
What books? Hedge fund books? Stop drowning yourself vladtenev
Yes the books the HF handed them.
Couple of months ago I came across a recommendation about tatiana_alek wealth how she helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation
Why are you giving him another way to manipulate people. He let Reddit become an echo chamber for these crazy scams. They deleted comments and censored users who warned of this scam. /wsb is best compared to qanon in which dissension is not allowed and crazy ideas flourish.
Wonder when Gabe will provide evidence supporting his anti-semetic claims. Thats a biggggg accusation
RepSteveStivers Or other was other 55Tap on a clip to paste it in the text box.Tap on a clip to paste it in the text box.Tap on a clip to paste it in the text box.
RepSteveStivers PMOIndia washingtonpost nytimes ndtv BBCNews POTUS meenaharris ANI timesofindia sachin_rt
RashidaTlaib Ok, I don’t know the right answer here, but approaching a conversation this way is wrong. Stop asking questions if you don’t want to listen to the answer. We need to have honest conversations here and actually learn the differing perspectives about issues.
RashidaTlaib As I've said before, its time to hold these hedge fund managers responsible for playing the markets like a casino. This type of nonsense from the likes of reddit and Robinhood cannot happen again.
and you'll never will, they are doing the same as the big boys are, but the big boys have powerful friends that were definitely doing after-hours shady stuff.