By Nathalie Voit
In a blog post from March 29, mobile-brokerage firm Robinhood said it was adding an extra four hours to extended trading for users.
“Robinhood was built to revolutionize the markets and bring more people into our financial system. That’s why Robinhood is working towards offering 24/7 investing — giving customers unprecedented access to the financial markets. In the future, when not beholden to traditional hours, retail investors will be able to invest more on their own terms and timelines, regardless of time of day or week,” the company said on Tuesday.
The new extended hours will allow customers to trade from 7 a.m. to 8 p.m. ET, a critical step Robinhood said will place the company on track to offering round-the-clock investing.
The fintech company previously offered extended hours trading from 9 a.m. to 9:30 a.m. ET and 4 p.m. to 6 p.m. ET.
Regular U.S. stock market hours run from 9:30 a.m. ET to 4:00 p.m. ET. However, pre-market trading is possible from 4 a.m. and after-hours trading until 8:00 p.m.
“Our customers often tell us they’re working or preoccupied during regular market hours, limiting their ability to invest on their own schedule or evaluate and react to important market news,” Robinhood said. “In fact, we’ve seen a community of Robinhood early birds and night owls who log in exclusively outside of regular market hours. They’re juggling a lot, from full-time jobs to school, families, and side gigs. Our new extended trading hours for equities will give them more opportunities to manage their portfolio at a convenient time for them, whether that’s in the early morning or in the evening.”
Robinhood stock is up about 25% to trade at $15.91 as of Tuesday’s close.
