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YouTube streamer Roaring Kitty to testify on GameStop alongside hedge fund managers

The YouTube streamer known as Roaring Kitty, who helped drive a surge of interest in GameStop Corp, will testify before a U.S. House panel on Thursday alongside top hedge fund managers.

A special commission of the Chamber of Representatives will investigate the manner in which the influx of shares from small investors has been carried out by GameStop and several other companies, which led to the short squash of large-scale hedge funds such as Melvin Capital and several others who traded shares of troubled companies in short positions – from 2 days to a week.

The witness list was announced on Friday and includes Roaring Kitty, Robinhood CEO Vlad (Vladimir) Tenev, Citadel CEO Kenneth Griffin, Melvin CEO Gabriel Plotkin, and Reddit CEO Steve Huffman.

The hearing will be virtual and will take place on February 18 at 17:00 GMT, and will be shown live.

Robinhood, Reddit, Melvin, and Citadel found themselves at the epicenter of a thriller unfolding over GameStop shares, in which small investors and traders with their comments and actions in the WallStreeBets column on Twitter rise up the shares of several troubled companies.

The jump in GameStop stock shares has led to unprecedented losses on the part of hedge fund Melvin. The losses amount to many billions of dollars and are still being estimated. An additional $ 2 billion had to be borrowed to prevent bankruptcy.


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