New York (CNN Business) It's no secret that Warren Buffett isn't a fan of Robinhood. Then, in February 2021, trading volume shot up to nearly 2,000 shares per day, where it'sremained ever since. Instead, volumes of the most expensive stock in the US have been artificially inflated by the way brokers like Robinhood report fractional trading. The reported phantom volume represents 80% of their daily trading volume. Fractional trading brokerages like Robinhood, meanwhile, are "a fly in the ointment," to Buffett, Robert Bartlett, a professor at the University of California, Berkeley School of Law and co-author of the study.

Source: CNN August 04, 2022 23:54 UTC