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Robinhood CEO says move to 24-hour trading for individual stocks is overdue. Skeptics see no need.

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'Trading hours haven’t changed since the 80s, and in that time period markets have gone electronic. So it’s time to change that and to upgrade it,' Robinhood CEO said. Skeptics argue that individual investors would have more opportunity to lose money.

That’s Robinhood Markets Inc. HOOD Chief Executive Vlad Tenev telling CNBC in a Thursday interview 24-hour trading in individual stocks was a long overdue innovation.

Robinhood released earnings Wednesday night and announced that it would launch a new 24-hour trading service next week, called 24 Hour Market, that would allow round-the-clock stock trading five days a week. Robinhood shares were up 2.5% just before midday Thursday.

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