In this photo illustration a GameStop logo of the U.S. video game, consumer electronics, and gaming merchandise retailer, is seen on a mobile phone and a pc screen. (Photo by Pavlo Gonchar / SOPA Images/Sipa USA)
Company logos displayed on smartphone in Ukraine – 05 Feb 2021
WASHINGTON (AP) — The GameStop saga has been portrayed as a victory of the little guy over Wall Street giants but not everyone agrees, including some lawmakers in Washington.
GameStop shares soared 1,600% in January before falling back to earth. Entangled in the mess are massive short-selling hedge funds, a social media message board and ordinary investors wanting in on the hottest new trade among others.
The House Financial Services Committee is ready to dig into the confounding episode at a hearing on Thursday.
Among those expected to appear are the CEO of the online trading platform Robinhood and swaggering 34-year-old YouTube personality and GameStop evangelist known online as Roaring Kitty.
