Last month, the U.S. Congress held a hearing inviting individual investors and hedge funds involved in the deal to discuss the causes and background of the volatile stock prices of game software retailers on the New York stock market. ..
Individual investors and others said there was no problem with their actions.
In the New York market, at the end of last month, the stock price of "GameStop", which sells game software, fluctuated due to a large number of buy orders placed by individual investors who exchanged information on SNS, and hedge funds suffered huge losses. I spread the ripples.
A committee of the US House of Representatives held a hearing on the 18th and asked the people concerned for testimony.
In this, Keith Gill, an individual investor who is said to have called for a buy order on SNS, said, "It is ridiculous to think that other investors have been called to buy stocks," and wrote his thoughts on stock prices. I said it was just.
Meanwhile, Gabriel Protokin, CEO of Melvin Capital, a hedge fund that lost a lot of money, said that there was no problem with the method called "short selling" that the company was doing, and said, "On the online bulletin board about our transaction After investigating, there was a note urging a deal in the opposite direction. "
The issue has been criticized for helping hedge funds over the temporary restrictions on buying and selling of the stock trading app Robin Hood, which is used by many retail investors.
Brad Tenev, CEO of the app operator, denied that "there is no such purpose."
Under the current volatility, the Securities and Exchange Commission is also investigating whether there were any acts such as stock price manipulation.