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Reddit forum's role in Gamestop shares frenzy faces regulatory probe

Sky News Thursday, 28 January 2021
Reddit forum's role in Gamestop shares frenzy faces regulatory probeUS regulators are to review extraordinary rallies in the shares of struggling gaming retailer Gamestop, part-driven by users of a forum on Reddit, as concerns grow over a surge in retail investor activism.
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Video Credit: CBS 2 New York - Published
News video: GameStop Shares Skyrocketing Thanks To Everyday Investors

GameStop Shares Skyrocketing Thanks To Everyday Investors 01:59

Everyday investors have inflicted pain on professional traders who made big bets that GameStop shares would fall. Instead, it's skyrocketing, up 800% in a week; CBS2's Tony Aiello reports.

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GameStop American video game retailer

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The head of trading app Robinhood and Wall Street hedge fund managers on Thursday fielded a barrage of questions in the U.S. Congress about their role in the GameStop trading frenzy, at times being cut off by irate lawmakers. This report produced by Lisa Bernhard.

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'I am not a cat' -investor, known on YouTube as Roaring Kitty [Video]

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Keith Gill, a Reddit user and YouTube streamer known as Roaring Kitty who promoted his investment in GameStop, gave testimony in a Congressional hearing on Thursday.

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Reddit Reddit Social news aggregation, web content rating, livestreaming, and discussion platform

'We don't answer to hedge funds' -Robinhood CEO [Video]

'We don't answer to hedge funds' -Robinhood CEO

Robinhood CEO Vlad  Tenev on Thursday defended the online brokerage app's actions during the recent Reddit rally in shares of GameStop, saying: "Robinhood Securities put the restrictions in place in an effort to meet increased regulatory deposit requirements, not to help hedge funds. We don't answer to hedge funds. We serve the millions of small investors who use our platform every day to invest."

Credit: Reuters Studio    Duration: 01:46Published

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