Trading app Robinhood strikes back after Warren Buffett claims it encourages gambling
Warren Buffett said Robinhood encourages gambling
Trading app Robinhood has hit back at Warren Buffett after the respected investor accused it of encouraging gambling.
At his Berkshire Hathaway firm’s shareholder meeting on Saturday, Buffett said Robinhood was “out to attract users” who were betting on short-term moves, rather than making long-term investment decisions.
But Robinhood spokesman Jacqueline Ortiz Ramsay said, “The old guard doesn’t want average Americans to sit at the Wall Street table, so they resort to insults.”