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Massachusetts Sec. of Commonwealth Galvin says Robinhood is a reckless company gamifying investing



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Stock trading app Robinhood is being accused of reckless, exploitive business tactics on its young, millennial clientele.”The worst aspect of what they do clearly is they way they are gameifying the idea of investing,” Massachusetts Secretary of the Commonwealth William Galvin, who filed the compliant, told CNBC’s “Squawk Alley” Wednesday.”This is a very reckless company when it comes to these investors. They’re interested in expanding their market base, they’re not interested in serving their investors,” said Galvin.On Wednesday, Massachusetts regulators filed a complaint against millennial favored trading app Robinhood accusing the company of predatory marketing and other …

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