GameStop hearing targets stock lending, social media
Michael Shaw, 23 March 2021
Two issues emerged from a congressional hearing on the volatile trading of GameStop Corp. shares: Lawmakers and regulators need a greater understanding of how technology helped foster the frenzy, and regulators need systems to understand such events — and possibly to manage them.
House Financial Services members and witnesses spent most of their time at the hearing last week focusing on the role of short-selling in the GameStop trading frenzy in January. They specifically looked at the source of securities used to take short positions, and they looked at how a bunch of retail investors seemingly were able to outmaneuver the professionals. Continue reading “Article: GameStop hearing targets stock lending, social media”
Blaine Luetkemeyer (R-MO) is a committee member of the 116th Congress U.S. House Committee on Financial Services. He is an American politician currently serving as the incumbent U.S. Representative for Missouri’s 3rd congressional district, a seat he has held since 2009. Luetkemeyer is a member of the Republican Party. He graduated from Lincoln University, Missouri (BA).