May 14, 2021

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Robinhood trading app is responding to Warren Buffett’s comments

The Robinhood trading app hits back after Warren Buffett claims it encourages gambling behavior

Warren Buffett said Robinhood encourages gambling behaviors

Robinhood trading app responded to Warren Buffett after a respected investor accused him of encouraging gambling behaviors.

At a shareholder meeting at his Berkshire Hathaway company on Saturday, Buffett said Robinhood had “ begun to attract ” users who gamble on short-term moves, rather than making long-term investment decisions.

But Robinhood spokeswoman Jacqueline Ortiz Ramsay said: “The old guard doesn’t want ordinary Americans to take a seat at the Wall Street table until they resort to insults.