24/7 Stock Markets: Could Round-the-Clock Trading End Stop-Loss Hunting and After-Hours Manipulation?

The US financial market is on the cusp of a radical transformation: the adoption of 24/7 trading hours for stocks. This shift, driven by giants like NYSE and Nasdaq, promises to democratize access, but its real impact could be even deeper: curbing the ability of certain intermediaries to exploit low liquidity outside regular hours and affecting client stop-loss orders. Against a backdrop where Bitcoin trades at $67,193, up 0.4% in 24 hours, and Ethereum holds at $2,053, the discussion about continuous markets gains relevance, bridging the traditional world with lessons from cryptocurrencies, which have operated non-stop since inception.

The Push Toward 24/7 Markets

The transition to permanently open stock markets isn't a new idea, but it has gained unprecedented momentum in 2026. The New York Stock Exchange (NYSE) has sought SEC approval to enable 24/7 trading, while Nasdaq announced similar plans in December. Meanwhile, CME plans to launch 24-hour crypto futures this year, subject to regulation, and Cboe has already expanded index options trading to a 24/5 schedule. This move reflects growing demand from traders accustomed to the non-stop nature of platforms like Binance, who seek the same flexibility in traditional markets.

The pressure isn't just from participants; academic studies and regulatory alerts have highlighted inefficiencies in extended sessions. A joint report from UC Berkeley and the University of Rochester concluded that price discovery outside regular hours is far less efficient due to lower volume and liquidity, delaying the incorporation of new information. This creates a breeding ground for distortions that directly impact retail investors.

The Liquidity Problem and Stop-Loss Hunting

At the heart of the debate is liquidity, or rather, the lack thereof in non-regular hours. Joe Dente, a floor broker at the NYSE, explains that after the 4 p.m. ET close, market depth plummets: fewer participants and thinner order books lead to wider spreads and sharp movements. This structural fragility opens the door to questionable practices, where some intermediaries might take advantage to trigger stop-loss orders to the detriment of their clients.

Mati Greenspan, CEO of Quantum Economics, is blunt in identifying potential winners and losers. According to him, when markets reopen after major events, a small group of firms sets the first operable price, sometimes fixing it in a way that activates client stop-losses, closing positions at a loss and generating profits for the broker. Greenspan doesn't hesitate to label this as "pure and simple manipulation," arguing that on weekends with high-impact news, "the house tends to take liberties with prices at the opening bell."

Implications for Traders and Regulators

Implementing 24/7 markets could level the playing field, allowing retail traders to react in real-time without being trapped when the market is closed. This would reduce the historical advantage of intermediaries in low-liquidity sessions, where opacity and volatility have been fertile ground for abuse. However, the change isn't without risks: extending hours doesn't eliminate surveillance problems on its own but shifts them to a continuous environment, where regulatory oversight must intensify.

The SEC and FINRA have warned of increased risks of inefficiency, spoofing, and price distortion outside regular hours. Distinguishing between normal volatility in thin markets and intentional manipulative conduct remains a central challenge. In this regard, the experience of cryptocurrencies, with their 24/7 operation, offers valuable lessons: while they've faced manipulation issues, transparency and accessibility have empowered a broader base of investors.

Crypto Context and Market Perspectives

While traditional stocks take this step, the crypto market already operates on a 24/7 model, with Bitcoin at $67,193 and Ethereum at $2,053 showing relative stability. Platforms like Hyperliquid demonstrate demand for continuous markets, and CME's expansion into 24-hour crypto futures underscores the convergence between both worlds. For traders, this means risk management strategies, such as stop-loss orders, could become more effective in an uninterrupted environment, reducing exposure to price gaps at openings.

Yet, the transition won't be immediate or uniform. Experts warn that gradual adoption could create initial friction, such as increased liquidity fragmentation or high operational costs for smaller brokers. Long-term, competition is expected to drive innovations in technology and regulation, benefiting investors with better executions and greater transparency.

The Future of Financial Trading

The move toward 24/7 markets marks an inflection point in financial history, reflecting a cultural shift toward immediacy and inclusion. As NYSE, Nasdaq, and other key players implement these hours, we're likely to see a reevaluation of trading practices and oversight. Traders, both institutional and retail, will need to adapt their strategies to a continuous rhythm, while regulators face the challenge of maintaining market integrity in a non-stop environment.

Ultimately, this change could democratize access to markets, bringing the traditional world closer to the model cryptocurrencies have perfected. With Bitcoin leading the way in terms of continuous operability, pressure on stocks to follow suit will only increase, promising a future where financial trading is truly global and accessible at all times.

“Markets are always looking at the future, not the present.”

— Diario Bitcoin

— TrendRadar Editorial