The GameStop short squeeze saga caught the attention of Congress Thursday morning and that buzz is already panning out into hearings on the topic.
Rep. Maxine Waters (D-CA), chairwoman of the House Committee on Financial Services, announced plans for an investigation into the situation, pointing to a history of "predatory conduct" from hedge funds.
Waters didn't call out Robinhood or any other trading services by name, but did note that a future hearing would focus on the systemic financial impact of short selling, "gamification" and online trading platforms. The hearing date is not yet set.
"Addressing that predatory and manipulative conduct is the responsibility of lawmakers and securities regulators who are charged with protecting investors and ensuring that our capital markets are fair, orderly, and efficient," Waters said.
