---
title: Intraday Dynamics of NASDAQ Stocks in the Electronic Trading Era: Uncovering Strong U-Shape Patterns in Trading Volume and Bid-Ask Spread
url: https://www.ml-quant.com/papers/ssrn/4792199/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4792199
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4792199
featured: 2024-04-17
citations: 0
topic: Trading, Microstructure & Execution
---


# Intraday Dynamics of NASDAQ Stocks in the Electronic Trading Era: Uncovering Strong U-Shape Patterns in Trading Volume and Bid-Ask Spread

NASDAQ stocks exhibit a U-shaped pattern in bid-ask spreads and trading volumes due to aggressive trading at market open and close, especially for smaller stocks and those with larger order imbalances.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4792199
- Identifier: SSRN 4792199
- Released: 2024-04-12
- First featured: Quant Letter No. 45 (2024-04-17): https://www.ml-quant.com/issues/2024-04-17/
- Citations (Semantic Scholar): 0
- Published in: not yet
- Topic: Trading, Microstructure & Execution

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