Nasdaq plans to submit paperwork to the SEC to allow nearly 24-hour stock trading, launching in the second half of 2026. Critics argue this move could worsen market liquidity and volatility, creating a more “gamified” trading environment, according to Wells Fargo and chief market strategist Jay Woods.

The proposal includes a “day session” from 4 a.m. to 8 p.m. Eastern time, followed by a one-hour maintenance pause, then a “night session” from 9 p.m. to 4 a.m. Critics worry about the impact on listed companies and question the need for around-the-clock trading, as most liquidity already clusters around market open and close.

Retail-focused brokers like Robinhood already offer extended or near-24-hour trading, responding to individual investor demand. Nasdaq believes extended hours could attract more participation, while skeptics question whether firms would need to staff trading desks around the clock. The NYSE is also pursuing an extended-hours model with 22 hours of weekday trading.

Read more at CNBC: Nasdaq moves to near 24-hour trading. Some say that’s a bad idea