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Robinhood admits it’s just a gambling app.
(www.theverge.com)
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this post was submitted on 28 Oct 2024
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Excellent analogy. People who equate the stock market and gambling should go look up where the DJIA stood in October 1994. The slot machines in Vegas don't magically start spitting out profit just because you're patient, but stocks generally do over time.
It is gambling, because dark pools. That is the house. You're not trading the actual stock. The financial institutions do that. You buy stock from them, and they in turn give you a fake number and invest it in all secrecy.
In essence, you'll get your money, but they will handle the profits. So it is a rigged slot machine.
Please go look up the Dow as of October 1994.
Thank you.
No.
Please read my original post again. Did I say "was and always has been" or did I say "is"?