Silver shines as Reddit traders pile in - but LSE boss warns over damage to markets
Monday, 1 February 2021 Silver has become the latest target of a small-time trading frenzy that last week targeted US retailer Gamestop - as the boss of the London Stock Exchange group admitted that the trend was a worry.
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.
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."