Robinhood Stock Trading | Investing & Articles

Main Menu

  • Home
  • Robinhood review
    • Robinhood crypto
    • Robinhood gamestop
    • Robinhood stock price
  • Crypto
    • Binance
    • Bithumb
    • Coinbase
    • FTX
    • Huobi Global
  • Brokers
    • Charles Schwab
    • E*Trade
    • Fidelity
    • Interactive Brokers
  • Debt

Robinhood Stock Trading | Investing & Articles

Header Banner

Robinhood Stock Trading | Investing & Articles

  • Home
  • Robinhood review
    • Robinhood crypto
    • Robinhood gamestop
    • Robinhood stock price
  • Crypto
    • Binance
    • Bithumb
    • Coinbase
    • FTX
    • Huobi Global
  • Brokers
    • Charles Schwab
    • E*Trade
    • Fidelity
    • Interactive Brokers
  • Debt
Robinhood gamestop
Home›Robinhood gamestop›Robinhood, the citadel likely to testify at the hearing

Robinhood, the citadel likely to testify at the hearing

By Tim Kane
February 10, 2021
0
0


Share

Tweeter

Share

Share

Share

E-mail

A Congressional hearing scheduled for Feb. 18 into the Robinhood GameStop business debacle is expected to gather testimony from Robinhood, Melvin Capital and Citadel Securities, Reuters reported Wednesday (February 10) citing sources.

The House Financial Services Committee looks into the trading frenzy that has seen some stocks, like GameStop and AMC, escalate quickly and unexpectedly, while hedge funds like Melvin have sold stocks short and have been hit hard.

Melvin lost 53% of its $ 12.5 billion in assets in January as retail traders appeared to attack hedge funds.

The hearing is expected to be just the start of several inquiries into what happened those days and weeks in January.

Citadel Securities has come into play in its business relationships with companies like Robinhood and in the way payments and orders go. Citadel Securities manages 20 percent of all US equity volume and 39 percent of retail volume, according to its website, per Reuters.

the Federal Trade Commission Last week, he said he received more than 100 complaints about Robinhood between January 24 and February 2. The previous week he had received a total of seven. Complaints ranged from inability to cash in or change businesses.

The trading frenzy forced Robinhood to restrict trading in GameStop, AMC and other stocks due to volatility, a move that caused an uproar among users and lawmakers. Some people have sided with the hedge fund managers who sold these stocks short. Robinhood said it had no choice but to restrict purchases to meet capital needs.

the The GameStop saga could have wiped the rug out from under Robinhood’s plans for an Initial Public Offering (IPO). The Security and Exchange Commission (SEC) is investigating GameStop’s business fiasco and several lawsuits are pending. Congress is also reportedly reviewing restrictions on trading in hedge funds, including short selling.

In one PYMNTS interview, Yinon Ravid, CEO of application-based financial advisory firm Albert, said expanding access and availability of financial advice can help this new generation of younger, digital-savvy investors.

——————————

NEW PYMNTS DATA: FOCUS ON AI: THE BANK’S TECHNOLOGICAL ROADMAP

About the study: The AI ​​In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing the potential of AI in finance, healthcare and others.







Source link

Related posts:

  1. MGM Inventory – GME Inventory – Robinhood-GameStop Saga Highlights DeFi as Different System | Zoom Fintech | Zoom Fintech
  2. Ice Dice hits Robinhood with lawsuit for utilizing his picture and phrases in publication
  3. On-line fairness buying and selling teams aren’t new, however they’re larger and extra influential than ever
  4. Citadel’s Griffin Warns of Inflation Danger for Markets Benefiting from Retail Increase
Tagsexchange commissionfinancial services
  • Terms and Conditions
  • Privacy Policy