Robinhood Plans to Let Customers Trade Stocks on Weekends. Here's What That Could Do for Its Revenue.
Weekends would add 40% more trading hours. Would revenue follow?
Overview
Customers at Robinhood Markets (NASDAQ:HOOD) can buy and sell many of the most popular stocks and exchange-traded funds (ETFs) from Sunday at 8 p.m. ET until Friday at 8 p.m. ET on the broker's 24 Hour Market. That adds up to 120 hours a week, and it leaves the weekend as the only time when stocks are off-limits.
At its HOOD Summit in Houston on Sept. 29, the firm said it plans to fill the gap by letting customers trade a curated list of U.S. stocks and ETFs around the clock, weekends included. Robinhood expects to launch it early next year, pending regulatory review.
Details
Adding weekends would bring the 24 Hour Market to all 168 hours in a week, or about 40% more time to trade. But I don't think 40% more hours means anywhere near 40% more revenue.
Source
Originally published at www.fool.com.