November 6, 2024November 7, 2024

Robinhood's stock soars at open following surge in election contracts and overnight trading

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Retail investors weren’t just watching the election news roll in last night. They were also actively trading.

Online brokerage Robinhood reported its busiest ever overnight trading session for equities. Last night’s volume was 11 times higher than Robinhood’s usual overnight notional volume, according to the company. Retail investors traded stocks like Coinbase, Trump Media, Tesla and Nvidia.

Robinhood also saw a surge in people trading election-related event contracts. The company reported that 400 million contracts were traded, doubling Robinhood’s total volume for the contracts earlier that day.

Robinhood’s stock was up around 11% shortly after open.

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