During the peak of the COVID-19 pandemic, Robinhood app saw a surge in day trading activity. With more people having extra time, they engaged in monitoring market trends closely and making quick investment decisions. However, over recent months, Robinhood has experienced a decline in business as many users resumed regular work routines and lingering fallout from last year’s Gamestop short squeeze.
To attract users back to the platform, Robinhood has introduced an expansion of its active trading hours as of today. Previously, users could only trade 30 minutes before the market opened at 9:30 AM Eastern Time and 2 hours after it closed at 4:00 PM. Now, trading hours have been extended significantly, allowing trading from 7:00 AM to 8:00 PM Eastern Time. This change aligns Robinhood more closely with traditional brokerage services.
Robinhood adds four additional hours to extended trading for clients https://t.co/P9Yv2WzY4i
— CNBC (@CNBC) March 29, 2022
In a blog post, Robinhood stated, “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. 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.”
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