Home Finance Robinhood adds four additional hours to extended trading for clients

Robinhood adds four additional hours to extended trading for clients

by Enochadmin

Vlad Tenev, co-founder and CEO of Robinhood rings the opening bell on the Nasdaq on July twenty ninth, 2021.

Supply: The Nasdaq

As some Robinhood shoppers head again to the workplace following the pandemic, the inventory buying and selling app — which has skilled a slowdown in quantity this 12 months — is now providing additional hours within the morning and night for its buyers.

Robinhood stated Tuesday it’s including 4 additional hours to the buying and selling day. In a push to ultimately present 24/7 equities buying and selling, Robinhood stated it is going to be out there from 7 a.m. to eight p.m. ET.

Till Tuesday, Robinhood offered buying and selling half-hour earlier than the open and a couple of hours after the shut.

The U.S. inventory market opens at 9:30 a.m. ET and closes at 4:00 p.m. as a part of its common session. Prolonged buying and selling is allowed as early as 4 a.m. and goes as late as 8 p.m. and a few digital brokers do supply that prolonged entry.

“Our clients usually inform us they’re working or preoccupied throughout common market hours, limiting their potential to speculate on their very own schedule or consider and react to essential market information,” Robinhood stated in a blog post on Tuesday. “Our new prolonged buying and selling hours for equities will give them extra alternatives to handle their portfolio at a handy time for them, whether or not that is within the early morning or within the night.”

Rival brokerages Charles Schwab, Interactive Brokers and Constancy additionally supply prolonged buying and selling from 7 a.m. to eight p.m.

Robinhood didn’t want approval from the Securities and Trade Fee to increase buying and selling hours.

Robinhood’s inventory has been crushed this 12 months as enterprise on the buying and selling app slows and it appears to be like for brand new methods to drive development. Shares are off by about 28% in 2022, giving it a market worth of $11.12 billion.

Robinhood ended 2021 with 22.7 million internet cumulative funded accounts, with greater than 10 million of the accounts being added in final 12 months alone. Nevertheless, the firm gave a weak income forecast for the primary quarter.

Source link

Related Articles

Leave a Comment