Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources
Reuters2021-02-10
WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp. and related stocks, according to two sources familiar with the matter.
The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment.
(Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
((Pete.Schroeder@thomsonreuters.com; 202-310-5485;))
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