Sources tell FOX Business’ Charlie Gasparino that the listing of penny stocks allows trading of speculative shares on platforms like Robinhood and Schwab.
Lawmakers are getting ready to question President Biden’s pick to head the Securities and Exchange Commission; Gary Gensler.
His confirmation hearing comes at a precarious time for U.S. financial markets which are seeing a robust uptick in retail traders. These small investors are behind some of the recent swings tied to heavily shorted stocks, such as GameStop and AMC.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP | 120.44 | +0.94 | +0.79% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 9.09 | -0.11 | -1.18% |
Gensler, who previously led the Commodities Futures Trading Commission with an iron hand, will be quizzed on how he’ll handle the current trading climate if confirmed. He’ll also be probed on a host of other topics including whether or not Wall Street needs more regulation.
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