Robinhood Chief Brokerage Officer Steve Quirk has posted a note on social media stating that US election night was its biggest ever overnight session for equities, at 11x Robinhood’s usual overnight notional volume.
This week marked the first US presidential election in which single stocks were tradable around the clock through the Robinhood 24 Hour Market.
Quirk also indicated that more than 500 million election contracts traded, just a week after Robinhood launched its Presidential Election Market through Robinhood Derivatives. He said that moments like this show us why markets should be available to retail investors in real time. This isn’t just a defining moment for Robinhood, said Quirk, but for the broader industry as we move toward a more accessible and flexible market landscape.
Increased trading volumes of all types around the US election seem to be responsible for a nice rebound in Robinhood (NASDAQ:HOOD) shares during the first week of November. At the end of October the company’s shares sank by about 11% after the Robinhood’s Q3 2024 results disappointed. However they have made that up and more in the first few days of November, trading Thursday at about $30 – a new 52 week high and their highest level since late 2022.
