Feds Subpoena Robinhood in GameStop Market Manipulation Probe: WSJ

WHEN THE GAME STOPS

Arya Hodjat

Former Breaking News Intern

Published Feb. 11, 2021 1:57PM EST

Spencer Platt/Getty

The Justice Department is investigating a stock surge in GameStop—along with several others popular on the Reddit forum r/WallStreetBets—for possible market manipulation, the Wall Street Journal reports. Robinhood, the retail-stock app used by many Reddit traders, has received a subpoena in the investigation. Over the course of January, GameStop stock went from $20 a share all the way up to a peak of $438; it now has fallen below $50. The Securities and Exchange Commission is also investigating the matter, according to the Journal.

Read it at The Wall Street Journal

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Feds Subpoena Robinhood in GameStop Market Manipulation Probe: WSJ

Arya Hodjat

Spencer Platt/Getty