How to Watch, Live Stream Robinhood and Reddit CEOs Testify About GameStop
On 2/18/21 at 8:30 AM EST
Robinhood CEO Vladimir Tenev and Reddit CEO Steve Huffman will testify on Thursday to the U.S. House Committee on Financial Services, in regards to January s sudden surges in GameStop s stock.
Both CEOs were named as witnesses in a February 12 press release announcing the hearing. In addition to them, hedge fund heavies Kenneth C. Griffin (CEO of Citadel) and Gabriel Plotkin (founder of Melvin Capital Management) were also called, as was investor and YouTuber Keith Gill, who rose to prominence under his username on Reddit (u/deepf kingvalue) because of his high returns-on-investment. Gill is also a known booster of GameStop stocks.
More than 1 million GameStop shares were deemed failed-to-deliver , according to a Bloomberg report. $359 million in stock was in limbo, with buyers lacking
GameStop s top investor during the wild Reddit-fueled trading frenzy has dumped nearly all of its stake
GameStop s top investor during the wild Reddit-fueled trading frenzy has dumped nearly all of its stake
Will DanielFeb 12, 2021, 01:16 IST
A closed GameStop store.Evan Agostini/AP
Fidelity Investments sold all but 87 shares of its
GameStop holdings in January, according to SEC filings.
Fidelity was once the largest shareholder in the video game retailers owning 13% of the company.
The company wasn t the only institutional investor to cash in on the stock as the price surged.
Senvest Management also racked up nearly $700 million in profits on the trade, the Wall Street Journal reported.