Who gets to define best execution? Is T+1 or T+2 better for market stability? What even is payment for order flow? The Senate Banking Committee tackled all these questions and more at a dynamic Tuesday morning hearing.
Senate Banking Committee Hearing: “Who Wins on Wall Street? GameStop, Robinhood, and the State of Retail Investing”
The
Senate Banking Committee will hold a hearing today on the GameStop/Reddit/Robinhood saga entitled;
“Who Wins on Wall Street? GameStop, Robinhood, and the State of Retail Investing.” The hearing is scheduled to commence at 10AM.
The hearing will review the concerted effort by individuals chatting on Reddit to create a short squeeze in highly shorted securities. GameStop emerged as the Marquee security in this new phenomenon that saw its share price break through the realm of reality when it came to fundamental valuation.