Lawmakers dig into GameStop saga

The much-publicized saga involving GameStop stock values, and efforts to punish hedge fund managers betting the stock's value would collapse, has garnered the federal government's attention. Lawmakers Washington have planned a congressional hearing to get into the specifics of what happened and why.

By

National News

February 18, 2021 - 9:59 AM

WASHINGTON (AP) — Lawmakers in Washington are digging into the GameStop saga at a congressional hearing.

The episode has been portrayed as a victory of the little guy over Wall Street titans, but not everyone is buying it. Lawmakers from both parties are among the skeptics.

GameStop shares soared 1,600% in January before falling back to Earth. Entangled in the drama are huge short-selling hedge funds, a social media message board and ordinary investors wanting in on the hottest new trade. 

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