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Earnings Results: Robinhood stock rallies after earnings beat, plan to launch 24-hour trading as engagement wobbles

Earnings Results

Executives say the new service will allow customers to trade stocks 24 hours a day, five days a week

Robinhood has seen a drop-off in trading activity for things like stocks and crypto compared to last year.

AFP via Getty Images

Shares of Robinhood Markets Inc. moved higher after hours on Wednesday after the trading app reported first-quarter results that were better than expected — even as trading activity remains muted when compared to last year.

But in Robinhood’s HOOD latest efforts to reverse that trend with new products — including things like IRAs and forays into advisory services and futures offerings — the company said that it would launch a new 24-hour trading service next week, called 24 Hour Market, that would allow around-the-clock stock…

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