Spencer Platt
While Robinhood (NASDAQ:HOOD) had called for an "even larger window of available trading hours" over a year ago, the company is finally moving forward with the plans.
On an earnings call on Wednesday, CEO Vlad Tenev said his firm would be the first U.S. retail brokerage to offer 24/5 trading of a list of 40 well-known stocks and ETFs, and will look to "expand from there."
Activity is typically thin during current extended trading hours - which can start as early as 4 AM ET and end at 8 PM - but the move may give a new impetus to Robinhood (HOOD) shares, which have only gone south since the company's IPO in mid-2021. The stock rose 5% in after-hours trading following results that beat estimates and issuing upbeat guidance.
Related brokers: TD Ameritrade (NYSE:SCHW), Interactive Brokers (NASDAQ:IBKR), Charles Schwab (SCHW), E-Trade (NYSE:MS) and Cash App (SQ).