GameStop grilling: 5 questions US lawmakers want answers to

Key players testify at Congress over the saga that rattled US markets last month

Kenneth Griffin, chief executive officer of Citadel, testifies during a virtual hearing on GameStop on Feb. 18. Lawmakers are examining whether the wild swings in the stock price of the video game retailer exposed conflicts in the market's structure that can hurt unsophisticated investors. (House Financial Services Committee via AP)

ALEX FANG, Nikkei staff writer

February 19, 2021 09:32 JST

NEW YORK -- U.S. lawmakers on Thursday interrogated the major actors involved in January's GameStop saga, after the trading frenzy highlighted tensions between retail investors and Wall Street institutions, as well as technology companies' evolving role in financial markets.

Chief executives of free trading app Robinhood, financial powerhouse Citadel, hedge fund Melvin Capital and social media platform Reddit appeared before the House Committee on Financial Services in the first of a series of hearings to scrutinize recent events of market volatility. Keith Gill, the retail investor and YouTuber known as "Roaring Kitty" who is seen as instigating the GameStop rally, also testified.