Robinhood Says Overnight Trading Spiked After Trump's Tariff Surprise: 'Retail Came To The Rescue'

Robinhood Markets Inc. HOOD Chief Brokerage Officer Steve Quirk credited retail investors with stabilizing markets following President Donald Trump‘s sweeping tariff announcement in April, while highlighting record-breaking overnight trading volumes that signal a fundamental shift in market behavior.

What Happened: Speaking at the Piper Sandler Global Exchange & Trading Conference on Thursday, Quirk said this marked the second time retail traders rescued volatile markets, Reuters reported. “This is the second occurrence where I would argue retail came to the rescue of the market. COVID was probably the first,” he stated.

The market turmoil followed Trump’s April 2 tariff announcement, which roiled global markets and scuttled dealmaking. Retail investors responded by purchasing $4.7 billion in stocks on April 3, the highest single-day level in the past decade, according to JPMorgan estimates, according to the report.

Overnight trading has emerged as a key growth driver for Robinhood, with May representing the company’s biggest month ever for after-hours trading volume. The platform estimates up to 25% of total daily trading volume on busy days now occurs outside traditional market hours.

“You will look back in a couple years and laugh at the notion that we waited until 9:30 Eastern for trading to start,” Quirk said, noting users in their 30s “do the research and homework in the evening” and expect round-the-clock trading access.

Why It Matters: Robinhood reported record metrics for May, with total platform assets reaching an all-time high above $250 billion. Year-to-date net deposits climbed 40% to approximately $28 billion, while equity trading volumes rose 10% month-over-month and options contracts hit all-time highs.

Price Action: Robinhood Markets Inc. closed at $72.51 on Thursday, up 0.33%. In pre-market trading, the stock rose 1.70% to $73.74. Year to date, it’s up 83.85%.

According to Benzinga Edge Stock Rankings, Robinhood shows strong momentum and impressive growth, with a low value score indicating premium pricing. However, the stock maintains a positive price trend across the short to long term. Click here to view the full stock breakdown.