New York Stock Exchange Seeks Opinion If It Should Trade 24/7 Like Bitcoin, Ethereum As SEC Examines Steve Cohen-Backed Proposal
Portfolio Pulse from Benzinga Neuro
The New York Stock Exchange (NYSE), part of Intercontinental Exchange (NYSE:ICE), is exploring the possibility of 24/7 trading, similar to cryptocurrencies like Bitcoin and Ethereum. This consideration is in response to increased retail investor activity and the continuous trading nature of cryptocurrencies. The NYSE is conducting a survey on this potential shift, while the SEC reviews a 24/7 exchange proposal backed by Steve Cohen's Point72. Companies like Apple Inc (NASDAQ:AAPL) and NVIDIA Corp (NASDAQ:NVDA), along with brokers like Robinhood Markets Inc. (NASDAQ:HOOD), are highlighted in the context of this discussion.
April 22, 2024 | 7:43 am
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POSITIVE IMPACT
Robinhood Markets Inc. could benefit from increased trading volumes and user engagement if NYSE moves to 24/7 trading.
As a platform offering 24-hour weekday access to U.S. stocks, Robinhood could see a surge in trading volumes and user activity if the NYSE extends trading hours, positively impacting its business model.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Intercontinental Exchange, owning NYSE, explores 24/7 trading, potentially revolutionizing stock market operations.
As the parent company of NYSE, ICE's exploration into 24/7 trading could significantly enhance its market position and attract more traders, potentially increasing its stock value.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Apple Inc's stock could see increased trading activity and volatility with NYSE's potential shift to 24/7 trading.
As a major stock listed on the NYSE, Apple could experience changes in trading patterns and possibly more volatility with extended trading hours, impacting investor strategies.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
NVIDIA Corp may experience changes in trading dynamics and investor interest with the NYSE considering 24/7 trading.
NVIDIA, being a significant technology stock, might see a shift in trading patterns and potentially increased interest from investors due to the possibility of round-the-clock trading.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70