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Congresswoman Alexandria Ocasio-Cortez will conduct a livestream on Twitch where she will discuss the latest news about GameStop’s stock price and marketplace volatility in general.
AOC announced this on Twitter. She will be joined by “a guest or two,” but she didn’t say who her guest(s) may be. AOC announced the livestream following her comments against the stock trading site Robinhood, which recently halted trading for GameStop, AMC, and other stocks that are getting short-squeezed. She said Robinhood’s decision is “unacceptable.”
“We now need to know more about Robinhood’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit,” she said. “As a member of the Financial Services Committee, I’d support a hearing if necessary.”
I’ll be hopping on Twitch at 8:30pm tonight to discuss today’s developments with GameStop and retail trading. 👾 Might have a guest or two join – we’ll see.
See you there!— Alexandria Ocasio-Cortez (@AOC) January 28, 2021
AOC is not the first politician to weigh in on the stock market upheaval this week. President Joe Biden’s administration is watching the situation, while US Senator Elizabeth Warren has also weighed in with a comment of her own.
She urged the SEC and other financial regulators to step in. She also delivered sharp criticism of private equity firms and investors for treating stock as a playground for gambling.
“With stocks soaring while millions are out of work and struggling to pay bills, it’s not news that the stock market doesn’t reflect our actual economy. For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price. It’s long past time for the SEC and other financial regulators to wake up and do their jobs–and with a new administration and Democrats running Congress, I intend to make sure they do.”
GameStop’s stock price has been on a rollercoaster ride in recent days, due in part to the WallStreetBets subreddit taking on hedge funds and short-sellers who bet against the retailer. GameStop’s stock price dropped after Robinhood and others halted trading, but it has rebounded since. This situation is not going to be finished anytime soon, so keep checking back with GameSpot for the latest from AOC’s livestream and other events.
