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GameStop Slumps During Hearing on Retail Trading

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Feb.18 -- GameStop Corp. slumped to the lowest level in almost a month Thursday after a House Financial Services Committee hearing on retail trading and the video-game distributor. Executives from Robinhood Markets, Reddit, Citadel and Melvin Capital all took part.

Video Transcript

VLADIMIR TENEV: We don't answer to hedge funds.

KEITH GILL: I'm not a cat. I am not an institutional investor, nor am I a hedge fund.

KENNETH GRIFFIN: We had no role in Robin Hood's decision to limit trading in GameStop.

GABRIEL PLOTKIN: I want to make clear at the outset that Melvin Capital played absolutely no role in those trading platform decisions.

STEVE HUFFMAN: It's important to understand that Wall Street Bets is one of many finance and investing related communities on Reddit.

KENNETH GRIFFIN: America's retail investors play an important role in our capital markets.

JENNIFER SCHULP: Investors who opened accounts for the first time in 2020 were younger, had lower incomes, and were more racially diverse.

KEITH GILL: I like the stock. I'm as bullish as I've ever been at a potential turnaround for GameStop. And I remain invested in the company. Thank you. Cheers, everyone.