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by BLKNSLVR
1957 days ago
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Is this investigating Robinhood's halting of trade? That's mentioned towards the end of the very short article, but nowhere does it explicitly specify what is being investigated and why. The article says this:
"The House Financial Services Committee is examining how an apparent flood of retail trading drove GameStop and other shares to extreme highs, squeezing hedge funds like Melvin Capital that had bet against it." Which is a sentence that answers it's own question. The political ripples of this will be very interesting to watch. |
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And potentially nothing more than that. House committee hearings are usually little more than a show for the media. Politicians turn up to get their sound bites, the media gets a couple of photos of public figures looking uncomfortable while being questioned, then everybody goes home and nothing else happens.