Robinhood turning stock market into a casino, Warren Buffett says

Legendary investor and Berkshire Hathaway CEO Warren Buffett slammed stock-trading app Robinhood — saying it’s turning the market into a casino.

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. He added that there’s “nothing illegal to it, there’s nothing immoral, but I don’t think you build a society around people doing it.”