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.