On Sunday night in Chicago, Steve Quirk by habit checked the S&P 500 futures prices and noted a large fall. The following day, the markets veteran was looking at figures showing a surge in overnight trading on online broker Robinhood as investor darling Nvidia slumped amid worries about Chinese AI upstart DeepSeek.
Nvidia’s travails produced the second-biggest late-night trading session for Robinhood, best known for popularising smartphone-based trading. It has offered overnight dealing for the past 18 months and Monday ranked for volume behind only the night of the US presidential election in November.
“Our users don’t trade overnight once and go away,” says Quirk, Robinhood’s chief brokerage officer. “They look for an opportunity to do so again.”