Finance

Warren Buffett says Robinhood is catering to the gambling instincts of investors

0


Warren Buffett

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…



Source cnbc.com

McDonald’s (MCD) Q1 2021 earnings beat

Previous article

Biden taxes target big companies, so why is small business worried?

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance