Perhaps the biggest one: It tempts investors to react to a news event, in hopes of making a quick profit

Stock exchanges technically open and close at certain times of day, but investors can still trade shares of stocks and exchange-traded funds during sessions before the opening and after the close.
Should you, though?
Probably not. “Mom-and-pop investors should avoid the premarket and after-hours sessions like the plague,” says Robert Johnson,
Source: https://www.wsj.com/articles/the-perils-of-after-hours-stock-trading-11554689401?mod=e2tw