Freedom: Nasdaq’s move to 23-hour trading could support share gains

U.S. exchange Nasdaq plans to extend trading hours to 23 hours a day, five days a week, starting December 6, 2026. The launch of an overnight session is intended to make U.S. stocks more accessible to investors in other time zones, primarily in Asia and Europe. To implement the project, the exchange still needs to obtain regulatory approvals. 

Nasdaq is one of the largest U.S. stock exchanges and the operator of the eponymous trading venue, which lists shares of many of the крупнейших technology companies. The company’s revenues are tied, among other things, to exchange operations, the provision of market data, and technology solutions.

Freedom analyst Vladimir Chernov considers the expansion of trading hours a strategically important step for Nasdaq. A longer session will allow the exchange to reach more international investors and could contribute to higher revenue from transaction activity.

How Nasdaq trading hours will change

Currently, including the premarket, regular, and after-hours sessions, Nasdaq operates from 4:00 a.m. to 8:00 p.m. U.S. Eastern time. After the new schedule is launched, trading will be available almost around the clock—from Sunday evening to Friday evening—with a one-hour daily break. 

The new overnight session is expected to run from 9:00 p.m. to 4:00 a.m. U.S. Eastern time, or from 7:00 a.m. to 2:00 p.m. Astana time. The first such trading period could begin on the evening of December 6. However, the final launch depends on the readiness of market data processing infrastructure and the necessary changes to U.S. Securities and Exchange Commission rules. 

Nasdaq explains the expansion of trading hours by growing global demand for U.S. stocks. Competitors are moving to a similar model as well: the New York Stock Exchange also plans to launch 23-hour trading on December 6. 

Nasdaq shares may gain an additional growth driver

According to data cited by Freedom analyst Vladimir Chernov, Nasdaq’s revenue in the second quarter increased 15% year over year to $1.5 billion, and adjusted earnings per share exceeded $1 for the first time.

Against this backdrop, extended trading hours could become an additional source of business growth. Increasing the number of hours available for transactions could potentially expand the market for exchange services and support Nasdaq’s transaction revenue.

The average target price among analysts, according to Vladimir Chernov, is around $110. This implies upside potential of more than 13% from the level at the time the commentary was prepared. The Freedom analyst expects that news of a move to a 23-hour schedule could be an additional positive factor for Nasdaq shares in the coming months.

Nasdaq expands investor access to the U.S. market

The move to near around-the-clock trading continues Nasdaq’s broader strategy of increasing access to the U.S. equity market for investors from Asia and Europe.

In April, the Nasdaq Composite hit a new all-time high amid demand for technology stocks. At the close of trading on April 22, it rose 1.64% to a record 24,658 points. Since the start of 2026, the index was up more than 15.5% at that time. 

At the same time, the exchange itself is developing new ways to trade securities. In March, Nasdaq announced a partnership with the parent company of cryptocurrency exchange Kraken to build infrastructure for trading tokenized shares. Such instruments represent rights to traditional securities in digital form and allow transactions to be carried out via blockchain networks. The new system is expected to launch in the first half of 2027. 

This is not individual investment advice.