Robinhood hits back at Warren Buffet over day trader comments

Robinhood Financial, the online broker that is wildly popular with Reddit-fuelled day traders and other retail investors, is taking aim at comments made by Berkshire Hathaway’s Warren Buffett over the weekend.

Robinhood Financial, the online broker that is wildly popular with Reddit-fuelled day traders and other retail investors who have started actively trading in stocks during the pandemic, is taking issue with comments made by Berkshire Hathaway chief Warren Buffet over the weekend. On Saturday, during Berkshire’s annual shareholder meeting, Buffet compared the millions of inexperienced day traders who entered the stock market over the past year to gamblers, and said Robinhood has attracted, “maybe set out to attract”, a large number of people who are just gambling on short-term price movements. Berkshire’s vice chairman, Charlie Munger, was harsher, saying it was “deeply wrong”.