By Sam Boughedda
Investing.com -- Robinhood Markets (NASDAQ:HOOD) announced Tuesday that it will be extending its trading hours from 7 am to 8 pm ET.
The retail stock trading broker said it will be expanding pre-market trading to 7 am from 9 am ET and after-hours trading to 8 pm ET, adding an extra four hours.
The move is a push from the company towards 24/7 trading, something it says is "the future" of investing.
Previously, Robinhood users could trade via the brokerage 30 minutes before the open and 2 hours after the close.
The US market regular session currently opens at 9:30 am ET and closes at 4:00 pm, while extended trading occurs from as early as 4 am and to as late as 8 pm.
Robinhood shares plunged since August last year, with a slowdown in trading volumes pressuring the stock.
"We’ve seen a community of Robinhood early birds and night owls who log in exclusively outside of regular market hours. They’re juggling a lot, from full-time jobs to school, families, and side gigs. 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," the company said in its press release.
Robinhood shares popped 10% following today's news.