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Warren Buffett calls SPACs a "killer" and slams Robinhood for encouraging gambling

Warren Buffett called SPACs a "killer" and criticized stock-trading app Robinhood for encouraging gambling during Berkshire Hathaway's annual meeting in Los Angeles Saturday.

Why it matters: The criticism by Buffet comes as SPACs, or special purpose acquisition companies, and Robinhood have been facing scrutiny from regulators after soaring in popularity over the past year.

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