Warren Buffett slammed SPACs and Robinhood for encouraging gambling on stocks at Berkshire Hathaway’s annual meeting

Warren Buffett criticized SPACs and Robinhood at Berkshire Hathaway’s annual meeting. The investor said they encourage gambling and treating the stock market like a casino. Charlie Munger, Buffett’s right-hand man, damned both trends as well. See more stories on Insider’s business page. Warren Buffett blasted special-purpose acquisition companies (SPACs) and the Robinhood trading app for … Read more

Reddit trading frenzy fades as US Treasury’s Yellen summons agencies

A social media-driven trading cooled on Wednesday as U.S. Treasury Secretary Janet Yellen called a meeting of top officials that could result in tougher markets regulation for hedge funds, small investors and stockbrokers. Mass buying by amateur traders over the past two weeks has driven wild price gyrations in companies that big U.S. fund managers … Read more