Trading will begin earlier in the day and end later in the evening.
At the height of the COVID-19 pandemic, day trading via the Robinhood app became exceptionally popular, as people with more time during the day had more time to monitor the waves and make snap investments and sales. In recent months, however, Robinhood’s business has been on the downturn due to a combination of many people returning to regular day jobs and some leftover bad blood from the infamous Gamestop short squeeze last year.
In an effort to entice users back to the platform, Robinhood announced today that they will be expanding their active trading hours, effective immediately. Previously, Robinhood only allowed users to begin trading 30 minutes before the market proper opened at 9:30 AM eastern time and 2 hours after it closes at 4:00 PM. Starting today, these hours have been notably expanded, allowing trading to begin at 7:00 AM eastern time and not ending until 8:00 PM. This is much more in line with the services offered by higher grade brokerage services.
Robinhood adds four additional hours to extended trading for clients https://t.co/P9Yv2WzY4i
— CNBC (@CNBC) March 29, 2022
“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 a blog post. “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.”