GameStop shares soared 1,600% in January before falling back to Earth. AdvertisementThe head of the Financial Services Committee, Rep. Maxine Waters (D-Los Angeles) brusquely grilled Tenev on Robinhood’s restricting its customers ability to trade GameStop stock. She also asked Tenev about Robinhood’s close relationship with Citadel Securities, which she maintains poses a conflict of interest. “The idea that I used social media to promote GameStop stock to unwitting investors and influence the market is preposterous,” Gill said. “My posts did not cause the movement of billions of dollars into GameStop shares.

Source: Los Angeles Times February 18, 2021 17:04 UTC