The GameStop series champions are due to appear in the US House of Representatives next Thursday.
They have been questioned about the significant increase in GameStop stocks and a number of other funds.
Among other things, the co-founder of the forum website Reddit and leader of stockbroker Robinhood has been called to the mat.
A panel of the US House of Representatives will be questioning the major players about the spike in GameStop shares and a number of other funds.
The forum’s Reddit co-founder, executives from various mutual funds and the leader of stockbroker Robinhood, among others was heard.
GameStop is a chain of computer game stores. According to many experts, it doesn’t have much value anymore. However, the share increased by more than 2,400 percent in just two weeks in January.
After that, the market value of the company’s shares fell again. The AMC Entertainment movie series has also been a part of what’s called the Reddit craze in recent weeks.
Also, read on the Business Insider website
During the same period, users on Reddit encouraged each other to invest heavily in stocks or options of the two companies. For example, several forum members wanted to block some of the large investment funds that were speculating on lower prices.
GameStop’s stock rally could be a price gouging
US prosecutors are investigating whether the GameStop stock hike involved price gouging.
This may be the case, for example, if deliberately false rumors spread about selling stocks for profit.
The US House of Representatives Committee, which also includes prominent member Alexandria Ocasio-Cortez, will interview the characters via video links Thursday.
Among other things, lawmakers may question whether reforms are necessary to protect retail investors.
Read more on GameStop:
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