The chiefs of Reddit, Robinhood, Citadel Securities, and Melvin Capital as well as retail investor Keith Gill appeared virtually before the House Financial Services Committee on Thursday, February 18 to share what they know about the recent trading saga surrounding GameStop and other heavily-shorted stocks.
While particular attention was given to the decision to restrict the trading of GameStop (GME) - Get Report and other names on Robinhood and other trading platforms, equal attention was paid to how the rules of the game can be changed to better protect retail investors, former SEC regulator and FrontLine Compliance founder and CEO Amy Lynch tells TheStreet's, Corey Goldman.
Former SEC Regulator, Amy Lynch, weighs in on the contributing factors that drove up the stock price. Watch the video above, as the President and Founder of FrontLine Compliance discuss ways to protect retail investors.
ICYMI - Here's who testified:
- Vlad Tenev, Chief Executive Officer, Robinhood Markets, Inc.
- Keith Gill, Investor, and analyst; @TheRoaringKitty
- Kenneth C. Griffin, Chief Executive Officer, Citadel LLC
- Steve Huffman, Chief Executive Officer, Co-Founder, Reddit
- Gabriel Plotkin, Chief Executive Officer, Melvin Capital Management LP
- Jennifer Schulp, Director of Financial Regulation Studies, Cato Institute
Watch the entire hearing from the House Financial Services Committee below: