Retail traders are reacting to this year’s market swings by becoming more tactical instead of more cautious, according to Anthony Denier, Webull’s Group President and U.S. CEO. He said in a recent interview that volatility often boosts activity on trading platforms rather than suppressing it, as increasingly tool-driven investors look for opportunities amid price moves.
"Volatility doesn’t automatically mean retreat, it can mean recalibration," Denier said, adding that many retail investors now view periods of market turbulence as openings to reposition. He pointed to heightened trading interest in AI-linked equities, semiconductors and broader technology stocks - sectors he described as tied to structural growth themes.
Denier also highlighted persistent demand for exchange-traded funds. ETFs, he said, continue to serve as a preferred vehicle for investors seeking diversified exposure during uncertain macro conditions. Beyond product selection, the behavioral shift is evident in how investors manage exposure: using data-driven decision-making, options strategies and the ability to trade outside standard hours.
Last week, Webull rolled out a consolidated overnight market data feed that aggregates liquidity and pricing information across multiple off-exchange U.S. trading venues. According to Denier, that tool is part of a broader trend where users lean on overnight access and real-time analytics to manage risk when global developments occur outside regular market hours.
The firm reports a material behavioral change as 24/5 trading gains traction. Denier said the 24/5 framework enables investors to respond immediately instead of waiting for the opening bell, which in turn alters both the timing and frequency of retail engagement. Earnings releases, geopolitical events and macroeconomic news that land overnight have contributed to heavier participation during extended trading sessions.
Geographically, the shift is particularly apparent in the Asia-Pacific region, where local sessions overlap with U.S. overnight hours. Denier identified Hong Kong as the fastest-growing source of demand on the platform, followed by Thailand, with both markets showing strong interest in U.S. equities. He emphasized that this trend is not restricted to international users; U.S.-based traders, notably on the West Coast, are increasingly using overnight sessions to adjust positions more frequently.
Overnight activity remains concentrated in highly liquid large-cap names and major ETFs. Denier cited specific examples such as TSLA and NVDA among equities, and broad-market products like SPY and QQQ, which investors employ for market exposure and macro positioning. He noted particularly strong engagement in sectors linked to AI and semiconductors, and said leveraged and crypto-linked products see increased use during heightened volatility.
Summary
Retail investors are trading more tactically amid market swings, leveraging extended-hours access and new data tools. Webull reports increased activity in AI, semiconductor and large-cap names, sustained ETF demand, and rising adoption of 24/5 trading, with notable demand growth from Hong Kong and Thailand as well as U.S. West Coast participants.
Key points
- Volatility is driving higher engagement rather than broad-based retreat, with investors using data, options strategies and extended-hours access to manage exposure - impacts technology and thematic growth sectors.
- Webull launched a consolidated overnight market data feed to give a unified view of liquidity and pricing across multiple off-exchange U.S. venues, supporting round-the-clock risk management - impacts trading infrastructure and execution transparency.
- 24/5 trading adoption is changing participation patterns, with Asia-Pacific demand (notably Hong Kong and Thailand) and increased U.S. overnight activity concentrated in liquid large-caps and major ETFs - impacts global equities and ETF markets.
Risks and uncertainties
- Higher participation in extended hours can concentrate activity in the most liquid names and ETFs, which may leave less-liquid securities more exposed to discontinuous pricing - relevant to equity and small-cap markets.
- Increased use of leveraged and crypto-linked products during volatile periods can amplify losses as well as gains, presenting heightened risk for retail participants and market stability in those product segments.
- Reliance on overnight data and real-time tools means platform outages or data feed disruptions could impede investors’ ability to react to overnight news, affecting execution and risk management capabilities across trading venues.