Robinhood (HOOD) Confirms 24 Hour Market Debut
Robinhood (NASDAQ: HOOD) confirmed it will debut a 24 Hour Market, allowing investors to place limit orders to buy whole shares of 43 of the most traded ETFs and individual stocks - like Tesla (NASDAQ: TSLA), Apple (NASDAQ: AAPL), and Amazon (NASDAQ: AMZN). The brokerage's 24 Hour market starts next week for a subset of customers and will be available to everyone in June.
From Robinhood:
The world never stops, so why should investing be any different? Today Robinhood is announcing 24 Hour Market, which offers people unprecedented flexibility and access to the markets. Using 24 Hour Market, people can place limit orders to buy whole shares of 43 of the most traded ETFs and individual stocks– such as TSLA, AMZN and AAPL– 24 hours a day, five days a week. 24 Hour Market lets customers invest when they want, on their schedule. Trading hours will run from 8:00 pm ET on Sunday to 8:00 pm ET on Friday.
We are relentlessly focused on building products tailored to fit people’s lives and make investing more accessible to everyone– not just a select few. We’ve often heard from customers that it’s tough to find time for investing during regular market hours with work, family, and everything in between.
Market-moving news can also break anywhere and at any time. With 24 Hour Market, advanced traders have the flexibility to act in real-time, around the clock, managing their portfolio and adapting to new information, whenever it hits. 24 Hour Market also provides access to research and analysis.
Here’s how it works:
- Select your stock or ETF. Stocks and ETFs that are tradable 24 hours will be differentiated in-app. A 24 Hour Market list will also show the 43 stocks and ETFs that can be traded. This list includes many of the most popular symbols by trading volume.
- Name your price. Customers can place 24 Hour Market orders in the Limit Order flow. As a first step, customers type in the maximum price they would pay for the security – or the minimum price they would sell for.
- Set trading hours and time in force. Select the 24 Hour Market trading session and choose when a limit order should be executed by, or expire.
- Select number of shares. After selecting how many shares they’d like to buy, traders will see a summary of the order, including the limit price, time in force, and total estimated cost. Swipe to submit, and the trade is made!
Robinhood’s 24 Hour Market levels the playing field so extended trading is no longer exclusively reserved for those operating on U.S. East Coast hours. You invest on your time.
We’ll start rolling out 24 Hour Market next week, 5/16 to a subset of customers and it will be available to everyone in June. If you don’t have the option to try it out right away, you will soon.