Robinhood (NASDAQ:HOOD) says it has surpassed $10 billion in trading during the overnight trading. Robinhood defines overnight trading as Sunday-Friday from 8pm ET – 7am ET. The brokerage said that some of its busiest days much trading occurs outside of traditional market hours or around 25% which is significant.
Robinhood initiated 24-hour trading, five days a week, in 2023. Last month, the platform expanded its offerings to include 922 different securities and funds.
Robinhood states:
- Since launching the Robinhood 24-Hour Market less than a year ago, customers have traded more than $10B in total volume during the overnight session.
- On the busiest days, as much as 25% of the total daily trading volume has come from outside of traditional market hours.
- The average daily trading volume for the overnight session* has grown every month since September 2023.
- February had the highest average daily trading volume for the overnight session of any month since launch. February volume was 1.6x higher than January, 2x higher than December, and 2.6x higher than November.
- Without providing exact numbers, Robinhood says the single biggest trading day in terms of overnight volume was the evening of March 3 into the morning of March 4.
Clearly there is interest in off hours trading. While volatility can be high as liquidity is constrained, Robinhood only accepts limit orders during the off market hours.
