Robinhood Reports Record Overnight Trading Volume, 400 Million 2024 Election Contracts Traded

Chris Katje

November 06, 2024

Stocks and cryptocurrencies saw heavy action during the after-hours trading session during the 2024 election thanks to the expansion of 24-hour trading at companies like Robinhood Markets (NASDAQ:HOOD), which sees the extended hours as a key user growth item moving forward.

Here's a look at the top trading tickers and cryptocurrencies on Tuesday night.

What Happened: Investors closely watched the stock market and cryptocurrencies as Donald Trump pulled ahead in the 2024 election and was declared the winner by the Associated Press in the early hours of Wednesday morning.

Years ago, investors would have had to wait until the stock market opened to start buying their favorite stocks linked to a potential Trump win, but that wasn't the case Tuesday night.

As Trump pulled ahead in the race, shares of Trump Media & Technology Group (NASDAQ:DJT), a media company the president co-founded, surged ahead. Electric vehicle company Tesla Inc (NASDAQ:TSLA) also gained significantly, fueled by CEO Elon Musk's close ties with Trump and the expectation that the incoming administration may create a more favorable environment for Tesla, potentially challenging its competitors and boosting its share price outlook.

Robinhood reported its largest overnight session since launching the 24-hour market. This included the company's recently launched 2024 election contracts passing a milestone of 400 million contracts traded.

The company reported the 100 million contract milestone ahead of the election and later reported that the figure had doubled to 200 million around one day later. A total of over 500,000 Robinhood users traded election contracts according to the company.

Trading volume Tuesday night was around 11 times more than the company's usual overnight volume from 8 p.m. ET to 4 a.m. ET.

Here were the top 10 traded stocks and ETFs Tuesday night during the overnight trading session, according to Robinhood. The company did not specify the leaders in volume order, so they are listed below in alphabetical order by ticker:

Coinbase Global (NASDAQ:COIN)
Trump Media & Technology Group (NASDAQ:DJT)
iShares Bitcoin Trust (NASDAQ:IBIT)
MicroStrategy Inc (NASDAQ:MSTR)
NVIDIA Corporation (NASDAQ:NVDA)
Invesco QQQ Trust (NASDAQ:QQQ)
SPDR S&P 500 ETF Trust (NYSE:SPY)
Tesla Inc (NASDAQ:TSLA)
Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)
ProShares UltraPro QQQ (NASDAQ:TQQQ)

Robinhood also reported that the top three traded cryptocurrencies Tuesday night, in no particular order, were Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE), and Ethereum (CRYPTO: ETH).

Did You Know?

Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool

Why It's Important: The heavy volume from Robinhood came as many expected potential volatility in after-hours and extended-hours trading for brokerages that offer these services to their customers.

"We don't expect to have any issues at this point in time," an Interactive Brokers spokesperson told Bloomberg ahead of the election. "We've seen heavy trading volumes on the exchange with over 50 million presidential contracts traded today."

Like Robinhood and others, Interactive Brokers (NASDAQ:IBKR) offered 2024 election contracts through its ForecastEx LLC subsidiary. From Oct. 4 through the end of the day on Nov. 4, Interactive Brokers saw over 220 million 2024 election contracts traded, the company said.

The inclusion of election contract trading and having cryptocurrencies on the platform likely contributed to Robinhood's record night.

The list of 10 tickers above shows that several of them (COIN, IBIT, MSTR) were related to the cryptocurrency sector. Bitcoin hit all-time highs of $75,361.09 Wednesday morning and traded higher during the run-up to Trump’s declaration as the victor of the 2024 election.

Several brokers offer 24-hour trading of stocks and ETFs. Charles Schwab Corp (NYSE:SCHW) recently announced that it would expand 24-hour trading to all stocks in the S&P 500 and Nasdaq 100 indexes in 2025.

The New York Stock Exchange, which is owned by Intercontinental Exchange (NYSE:ICE), is looking to extend trading hours of the Arca Exchange to 22 hours a day from 1:30 a.m. ET to 11:30 p.m. ET subject to regulatory approval.

The 2024 election may change many things going forward, including the likelihood that investors will have more options to trade stocks, ETFs and cryptocurrencies more hours in the day.

HOOD Price Action: Robinhood stock is up 18.6% to $29.62 on Wednesday, hitting new 52-week highs of $29.27 early in the trading session. The stock is up 139% year-to-date in 2024.

Read Next:

Donald Trump Wins 47th Presidency -US Futures Up, Europe Up, Asia Mixed, Crude Falls And Dollar Strengthens

Photo: Shutterstock

Recommended

There's Only ONE AI Company That Matters - Ad

The Secret to Trading Success? It's Simpler Than You Think - Ad

Has the Tech Stock Selloff Finally Arrived? - Ad

Popular

Expanded College Football Playoff field draws more bets and on more teams

LAS VEGAS (AP) — If Texas coach Steve Sarkisian holds aloft the College Football Playoff trophy next month, that will be bad news for BetMGM Sportsbook.

From a 10-year-old to a Muppet to a president-elect, NYSE bell-ringers range from famous to obscure

The first guest invited to ring the bell to open trading at the New York Stock Exchange in 1956 wasn’t a company executive, a politician or a well-known celebrity. It was a 10-year-old boy, Leonard Ross, who received the honor by winning a television quiz show.

Do Not Read This If You're an Elon Musk Hater

Do Not Read This If You're an Elon Musk Hater - Ad

Elon Musk believes his new AI product will be worth an incredible $9 trillion. But the mainstream media is not buying it. Fortune called it "all smoke and mirrors" The Economist said that Elon's promises are "long on bombast and short on reality." And MarketWatch called it "a pipe dream."

Louise Trotter is named creative director of Bottega Veneta, as Matthieu Blazy moves on

MILAN (AP) — Kering announced Thursday that Louise Trotter has been named creative director of the fashion house, taking over from Matthieu Blazy.

Stocks Slip On Hot Inflation Data, Adobe Tumbles, Natural Gas Hits 1-Year High: What's Driving Markets Thursday?

Risk sentiment soured on Thursday following hotter-than-expected producer inflation data, which dampened optimism for aggressive interest rate cuts in 2025.

Elon Musk Is in Trump's "Inner Circle"

Elon Musk Is in Trump's "Inner Circle" - Ad

Elon Musk is one of Donald Trump's closest allies. James Altucher says that what Elon has planned next could lead to the world's first "Super-IPO" -- creating $100 billion on the first day it goes public! This "backdoor" play could be the best way to profit before the IPO...Starting with as little as $50.

US senator says mysterious drones spotted in New Jersey region should be 'shot down, if necessary'

A U.S. senator has called for spotted flying over sensitive areas in New Jersey and other parts of the Mid-Atlantic region to be “shot down, if necessary,” as it remains unclear who owns them.

What do we know about the mysterious drones reported flying over New Jersey?

A large number of have been reported flying over parts of New Jersey in recent weeks, sparking speculation and concern over who sent them and why.

What's Going On in This Strange Facility Near Mar-A-Lago?

What's Going On in This Strange Facility Near Mar-A-Lago? - Ad

Most people have no clue this unassuming facility exists. Yet the minute Donald Trump takes office... This could be the most important building in America. More important than the Capital, the Pentagon... even the White House. Because this may well be the epicenter of Trump's New Manhattan Project.

Microsoft Shareholders Reject Proposal To Explore Bitcoin Investment

Microsoft (NASDAQ:MSFT) shareholders voted against a proposal urging the company to study adding Bitcoin (CRYPTO: BTC) to its balance sheet, effectively ending discussions about the tech giant joinin

UnitedHealthcare CEO's shooting opens a door for many to vent frustrations over insurance

For years, patients in the U.S. health care system have grown frustrated with .

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined - Ad

Forget rockets or brain implants... Elon's new AI product could be his biggest invention yet. Jeff Brown tried it himself recently and caught his experience on camera. See this footage because according to Tesla Magazine, this new product "could well shape the technological and economic future of our society."

Juan Soto's $765M deal with the Mets is the largest in MLB history. Here's who he passed

and the New York Mets agreed to a Sunday night, a person familiar with the deal told The Associated Press. The person spoke on the condition of anonymity because the agreement hadn't been announced and was subject to the completion of a successful physical.

Argentina's Milei marks one year in office. Here's how his shock measures are reshaping the economy

BUENOS AIRES, Argentina (AP) — When assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. Middle-class families tried to spend their rapidly depreciating pesos as quickly as they got them, and economists warned the country was teetering on the brink of hyperinflation.

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett?

Why Is This Bull Run Scaring JP Morgan, Goldman Sachs, and Warren Buffett? - Ad

Billionaires Warren Buffett, Stanley Druckenmiller, and David Tepper have all sold off massive U.S. stock positions. Billionaire Ray Dalio, who runs one of the world's most successful hedge funds, says, "Things are going to get worse for our economy." What are these billionaires so worried about?

Tesla Chair Estimates New Pay Plan For Elon Musk Could Cost $25B More. Now, Delaware Judge Has Rejected It For The 2nd Time: Here's What's Coming Next

Delaware judge rejects $56B pay package for Tesla CEO Elon Musk, deeming it void and influenced by Musk. Tesla plans to appeal, creating uncertainty.

Eli Lilly invests $3B to expand Wisconsin factory to help meet demand for Mounjaro, Zepbound

Eli Lilly is spending another $3 billion to bulk up manufacturing as the drugmaker seeks to stoke production of some and future products.

Top Nasdaq and NYSE Stocks Alerts for 2024

Top Nasdaq and NYSE Stocks Alerts for 2024 - Ad

Forget fancy software. Top traders rely on free alerts that tell them when to jump on the next big trade. Straight to your phone. No guessing, no stress.

Days after gunman killed UnitedHealthcare's CEO, police push to ID him and FBI offers reward

NEW YORK (AP) — The gunman who the CEO of the largest U.S. health insurer likely left New York City on a bus soon after the brazen ambush that has shaken corporate America, police officials said. But he left something behind: a backpack that was discovered in Central Park.

Friday's Top 5 Trending Stocks: What's Going On With SMCI, Nvidia, MicroStrategy?

SMCI, Nvidia, MicoStrategy, SoFi Technologies and Tesla are the top five trending tickers on Yahoo Finance Friday. Here's a look at what grabbed retail investors' attention as much of Wall Street takes the day off.

Caught On Camera (Shocking New AI Tech)

Caught On Camera (Shocking New AI Tech) - Ad

AI has already made 500,000 new millionaires over the past two years... The new AI tech you'll see in this video footage will change your life for the better, sooner than you might expect. It will have a bigger impact than the invention of the automobile, personal computer and iPhone, combined...

Jeff Bezos says he is 'optimistic' about a new Trump term and can help with cutting regulations

Amazon founder Jeff Bezos said Wednesday that he is “optimistic” about President-elect Donald Trump’s second term and expressed some excitement about potential regulatory cutbacks in the coming years.

Benzinga Bulls And Bears: Tesla, GameStop, Nvidia, Bitcoin, And Dogecoin Analyst Flags $1.30-$1.50 As Key Target

Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

10 Billion Humanoid Robots on Planet Earth?

10 Billion Humanoid Robots on Planet Earth? - Ad

Maybe growing up, you imagined we'd all have our own personal "robot butler" roving around our home doing what we command. Believe it or not, but that's EXACTLY what will soon happen with this new "Bot Com Revolution." Elon Musk is predicting 10 billion humanoid robots by 2040. Even more amazing, Musk predicts these robots could cost only $20,000 each -- about the cost of a good used car!

Trump's Energy Policies Poised To Reshape Oil & Gas Market: Winners And Losers Revealed

Trump's energy plans could reshape US markets with potential tariffs, increased production, and LNG exports. Goldman Sachs breaks down winners and losers.

Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured

In a tragic incident early Wednesday, a Tesla Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury.

"This Will Be Worse Than the Great Depression, the Dot-Com Crash, and the 2008 Crisis Combined"

"This Will Be Worse Than the Great Depression, the Dot-Com Crash, and the 2008 Crisis Combined" - Ad

According to Dan Ferris, who has predicted nearly every major market crisis of the last 25 years, a new crisis in the US economy could soon cost you 50% of your portfolio or more if you don't prepare your wealth now. Especially if you're sitting on large gains.

Elon Musk $56B Pay Package Rejected By Judge Again: Tesla Analyst Says 'Soap Opera Playing Out In Delaware'

The saga over a 2018 pay package for Elon Musk valued at $56 billion makes headlines again with a Delaware judge again rejecting the plan.

French government faces no-confidence vote over Barnier's austerity budget

PARIS (AP) — is bracing for a no-confidence vote this week, a political reckoning almost certain to topple his fragile government and send shockwaves across the eurozone.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

He'll be the last meatpacker in the Meatpacking District. Here's how NYC's gritty 'hood got chic

NEW YORK (AP) — When John Jobbagy’s grandfather immigrated from Budapest in 1900, he joined a throng of European butchers chopping up and shipping off meat in a loud, smelly corner of Manhattan that New Yorkers called the Meatpacking District.

Death sentence for real estate tycoon Truong My Lan upheld in Vietnam's largest fraud case

HANOI, Vietnam (AP) — The death sentence for real estate tycoon was upheld Tuesday in Vietnam's largest fraud case, the scale of which had raised concerns about the country's economy.

Exposed: 3 Cent Crypto to Explode December 16th?

Exposed: 3 Cent Crypto to Explode December 16th? - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on December 16th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Wall Street Struggles For Direction, Tesla Flirts With Record Highs, Bitcoin Tumbles Below $95,000: What's Driving Markets Tuesday?

The U.S. stock market lacked direction on Tuesday morning as investors stayed on the sidelines ahead of Wednesday’s release of November inflation data, a critical report that could influence the Federal Reserve’s decision on a potential interest rate cut next week.

This Crypto 'Killer App' Could Grow 1,000% Under A Trump Administration: Report

A new report indicates that stablecoins, currently a $163 billion market, could grow to represent 10% of the U.S.

Watch Jeff's New Demo: Elon Musk's New $9 Trillion AI Product

Watch Jeff's New Demo: Elon Musk's New $9 Trillion AI Product - Ad

Why is Jeff Brown blindfolded and with his hands tied behind his back? It's all part of a crazy experiment involving a Cybertruck. See this demo because if Jeff is right... Elon Musk could make a lot of people rich with his new AI technology.

Nvidia, AMD, C3 ai, Oracle, Tesla: Why These 5 Stocks Are On Investors' Radars Today?

On Monday, major U.S. indices closed in the red, with the Dow Jones Industrial Average falling 0.5% to 44,401.93.

Why Is Telomir Pharmaceuticals Stock Trading Higher On Tuesday?

Telomir Pharmaceuticals unveils preclinical data on Telomir-1, highlighting its potential in Type 2 diabetes, aging, and inflammatory diseases.

December 16th - The Biggest Crypto Event in History

December 16th - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on November 18th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Larger Fonts, Bigger Impact: iQIYI Makes Entertainment More Accessible

iQIYI introduces 'Extra Large Font' feature to enhance accessibility for senior and visually impaired users.

Trending Now

Crypto Stocks Are Heating Up - Ad

Google's Willow Quantum Computing Chip Sparks Stellar Conversation Between Elon Musk And Sundar Pichai: 'Most Obvious Path Is Staring At Our Eyes'

This Mediterranean Restaurant Chain Acquired Kevin Miles-Led ZoÃ«s Kitchen In 2018. It Is Now Rising Fast As A Chipotle Killer: What's Making It Tick? (Updated)