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Sources tell FOX Business’s Charlie Gasparino that penny stocks trading allows speculative stocks to be traded on platforms like Robinhood and Schwab.
Lawmakers on Tuesday roasted President Biden’s choice to head Securities and Exchange Commission Gary Gensler, and he answered tough questions in the process.
Its confirmation hearing comes at a precarious time for US financial markets which are experiencing a surge in retail traders. These small investors are behind some of the recent swings in heavily sold stocks, such as GameStop and AMC.
SEC SUSPENDS OTC NAMES OF CHOICE
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| GME | GAMESTOP | 123.45 | +3.96 | + 3.31% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 8.85 | -0.35 | -3.82% |
Gensler, who previously headed the Commodities Futures Trading Commission with an iron fist, spoke about bitcoin, the role of technology in financial markets, and hinted at a possible examination of how ‘payment for order flow’ works. amid the continued fallout from Robinhood’s trading shutdown in January.
For a recap, follow all the highlights on the FOX Business blog. Mobile users click here.
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