Gerard Miller | CNBC
Legendary investor Warren Buffett believes millennial-favored stock trading app Robinhood is contributing to the speculative, casino-like trading activity in the stock market and benefitting from it.
Robinhood has “become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year or year and a half,” Buffett said at Berkshire Hathaway’s annual meeting on Saturday.
The “Oracle of Omaha” also said he is looking forward to reading Robinhood’s pre-initial public offering SEC S-1 filing as the company nears it public debut, expected in the first half of 2021. The company, which pioneered…