GameStop shares, on the other hand, were surging nearly 17% to roughly $210, ... said in prepared remarks during a Congressional hearing about meme-stock volatility this month. But does the recent GameStop saga indicate that more needs to be done? GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. SEC chairman Gary Gensler alluded that tougher rules could be coming for players involved in the Reddit trading saga earlier this year, according to remarks released ahead of a congressional hearing scheduled for Thursday.. Why it matters: They're his "most revealing comments so far" on the issue since being confirmed to head the regulatory agency, Bloomberg notes. It is my privilege to serve as GameStop’s chief executive officer, working with a group of highly-committed and knowledgeable Board members in stewardship of the long-term interests of all our stockholders. In short, I like the stock," Gill said in the comments. Click here for the Committee Memorandum.. Capitol Report Robinhood business model under fire at GameStop hearing in Congress Last Updated: March 17, 2021 at 2:26 p.m. Lawmakers grill Robinhood’s chief executive at hearing on GameStop. The U.S. House Financial Services Committee (the "Committee") considered legislation in response to the GameStop and Archegos trading events. He was able to regain much of his hearing with the help of a cochlear implant in 2001. By Sissi Cao • 05/06/21 1:06pm. Guess that's not gonna happen anymore. WASHINGTON (Reuters) – The new chair of the U.S. securities regulator on Thursday told lawmakers the agency is considering new trading rules as it looks to address problems highlighted by this year’s GameStop Corp saga and the meltdown of private fund Archegos Capital. ____, to amend the Investment Advisers Act of 1940 to limit the exemption provided for family offices from the definition of an investment adviser to those family offices with less than $750,000,000 in … "GameStop's stock price may have gotten a bit ahead of itself last month, but I'm as bullish as I've ever been on a potential turnaround. If Gamestop defaulted on these bonds they would have to file bankruptcy. We'll explain the schedule, rules, timelines and other key details. By Katanga Johnson and Pete Schroeder. ____, the "Capital Markets Engagement and Transparency Act of 2021." asked the chief executive of Robinhood about the death of a 20-year-old customer last year. Various trading apps, at the height of the saga, restricted buying shares of GameStop, among other Reddit darlings targeted by short sellers. The spirited and contentious GameStop hearing seemed to freeze in time when Rep. Emanuel Cleaver II (D-Mo.) GameStop saw another surge higher as the video game retailer made another big move in its executive suite. WASHINGTON (Reuters) – The new chair of the U.S. securities regulator on Thursday told lawmakers the agency is considering new trading rules as it looks to address problems highlighted by this year’s GameStop Corp saga and the meltdown of private fund Archegos Capital. In February, a class-action lawsuit was filed against Gill after the GameStop short squeeze. Meanwhile, ... Can GameStop Investors Get Answers at Robinhood's Congressional Hearing? SEC Chief Warns Day Trading Results in Poor Returns During Congressional Hearing. At last check the stock was up 11.79% at $172.72. At the hearing titled "Game Stopped? They announced sales are up 11% Feb-March. Click here for the LIVE WEBCAST of this hearing. The big picture: It will "detail the range of activities" that came out of the January events," SEC chair Gary Gensler said Thursday at a third congressional hearing held to dissect the GameStop trading phenomenon. Legislation. Edit: going back over their Q4 2020 Earnings Report, Gamestop still has 48m in short term debt, and had 600m'ish cash (now down to 400mish after paying off this debt?). Colorado Avalanche center Nazem Kadri, left, hits St. Louis Blues defenseman Justin Faulk in the third period of Game 2 of an NHL hockey Stanley … The White House supports studying the merits of a financial transaction tax — a move favored by progressives and despised by Wall Street — in the wake of the GameStop trading frenzy. He appeared at a Congressional hearing in February regarding Reddit's influence on the market. GameStop shares ended the trading day Friday at $154.69. ... Robinhood is now dusting itself off — with the company’s CEO apologizing to customers at a congressional hearing … GameStop Hearing, Part 1 Robinhood CEO Vlad Tenev, along with investment firm executives, testifIed before the House Financial Services Committee on GameStop… ET ET First Published: March 17, 2021 at 12:22 p.m. The CEOs of Robinhood, Citadel and Melvin Capital also spoke at the hearing. H.R. The IRS is still sending third stimulus payments. Stimulus checks, tracking your money and plus-up payments: Everything to know. H.R. Wall Street's top regulator says a report examining meme stock mania will be coming "sometime this summer.". He appeared at a Congressional hearing in February regarding Reddit's influence on … But as the congressional hearing revealed, the spotlight brings its own peril. House Democrats and Biden aides are split over efforts to get an ex-Trump aide to testify to Congress. The new chair of the U.S. securities regulator told lawmakers on Thursday the agency was considering new trading rules to address issues raised by this year's GameStop … LYNN HAVEN, Fla. (WMBB) — The construction magnate connected to the Lynn Haven corruption investigation is headed to a hearing over alleged communication with witnesses in … Why it matters: The report could be a blueprint for tougher …
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