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GameStop Corp. (GME)
After hours:
- Motley Fool
Meme Stocks Are Doomed (in the Long Run)
Meme stock investors are learning that hype alone can't keep a stock at stratospheric levels forever.
- Bloomberg
Meme-Stock Probe Finds Robinhood Woes Were Worse Than It Let On
(Bloomberg) -- Robinhood Markets Inc. faced a more dire situation during the height of last year’s meme-stock frenzy than executives at the online brokerage let on publicly, according to a report from top Democrats on a key congressional committee. Most Read from BloombergHyundai Quietly Climbs the EV Sales Charts and Elon Musk NoticesRep. Mary Miller Calls Roe Decision ‘Victory for White Life’Russia Is Hours Away From Its First Foreign Default in a CenturyGermany Pushes for G-7 Reversal on Foss
- Reuters
U.S. congressional panel calls for crackdown after 'meme-stock' saga
WASHINGTON (Reuters) -Wall Street regulators must do more to address market risks highlighted by the "meme-stock" trading frenzy of January 2021 that pitted individual GameStop Corp investors against powerful hedge funds, a congressional report said Friday. The report by the U.S. House of Representatives' Financial Services Committee singled out Robinhood's trading app for "troubling business practices" and urged regulators to step up scrutiny of retail brokers. The report, which raises pressure on regulators to do more, also called for new brokerage liquidity rules and for regulators to hasten a crackdown on the "gameification" of trading -- game-like features that prompt users to trade more.
