What is after-hours trading and is it safe?

After-hours trading occurs outside regular market hours (9:30 AM – 4:00 PM ET) through electronic communication networks (ECNs). It is available pre-market (4–9:30 AM) and after-hours (4–8 PM). Risks include lower liquidity, wider bid-ask spreads, and more volatile price swings. After-hours moves on earnings reports are common but prices often reset at the open. Most retail investors should avoid after-hours trading.