Stock Groups

Robinhood adds four additional hours to extended trading for clients


Vlad Tenev (co-founder, CEO, Robinhood) rings the opening bell of the Nasdaq, July 29th 2021.

Source: Nasdaq

As some Robinhood clients head back to the office following the pandemic, the stock trading app — which has experienced a slowdown in volume this year — is now offering extra hours in the morning and evening for its investors.

Robinhood stated Tuesday that they will be adding four additional hours to their trading day. Robinhood announced that it would provide 24-hour equities trading from 7 AM to 8 PM. ET.

Until Tuesday, Robinhood offered trading 30 minutes before the open and 2 hours after the close.

U.S. stocks market open at 9:30 am ET. ET. It closes at 4:00 PM. Trading extended is possible as early as 4 AM and as late as 8 PM. Some electronic brokers offer this extended access.

Robinhood stated in an interview that customers frequently tell Robinhood they are busy during market hours. This limits their ability to make investments on their own time or react to market news. blog postTuesday. Our extended trading hours will provide them with more options to manage their equity portfolio when it suits them best, no matter if they are in the morning or the evening.

Rival brokerages Charles Schwab, Interactive BrokersFidelity and Fidelity offer extended trading between 7 a.m. and 8 p.m.

Robinhood didn’t need to get approval from Securities and Exchange Commission for extended trading hours.

Robinhood stock fell this year due to slowing business at the app and looking for ways to grow. The company’s shares have fallen by around 28% over the past year, giving it an estimated market value of $11.12 million in 2022.

Robinhood finished 2021 having 22.7 million net-cumulatively funded accounts. This includes more than 10,000,000 accounts that were created in the last year. But, company gave a weak revenue forecast for the first quarter.