House Speaker Nancy Pelosi on Thursday said Congress would be part of scrutiny on GameStop Corp. GME, -44.29% as the stock makes huge moves on Wall Street. The California Democrat told reporters at a briefing that she understood the Biden administration is looking at the situation, and that "we'll all be reviewing it." She called the stock's moves "interesting," as some brokers moved to restrict trading.
Two leading House and Senate committees pledged to hold hearings on the recent gyrations in the stock market as lawmakers voiced bipartisan outrage at platforms that curbed trades in companies like GameStop Corp. that were fueled by the social media site Reddit.
