ETORO ipos action trading application, beginnings on nasdaq

The actions of the Etoro shares brokerage platform arose in their debut in Nasdaq on Wednesday after the company raised nearly $ 310 million in its IPO.

The action opened its doors at $ 69.69, 34% above its IPO, bringing market capitalization to $ 5.6 billion. Actions have increased by more than 40%.

The company based in Israel sold nearly 6 million shares at $ 52 each, above the expected range from $ 46 to $ 50. Nearly 6 million additional shares have been sold by existing investors. At the IPO, the company was estimated at around $ 4.2 billion.

Wall Street look at the Robin competitor for signs of renewed interest in the IPO after prolonged drought. Many investors have seen the return of President Donald Trump to the White House as a catalyst before tariff concerns led companies to delay their plans.

Etoro is not the only company to try to test the waters. The company Fintech Chime deposited its prospectus with the SEC on Tuesday, while the digital physical therapy company Hinge Health launched its IPO Roadshow, and said that in a file which it aims to collect up to $ 437 million in its offer.

Etoro had previously filed a public file in public in 2021 thanks to a merger with an acquisition company for special purposes (SPAC) which would have estimated it at more than $ 10 billion. He put aside these plans in 2022 when the stock markets took place, but remained focused on a possible IPO.

Etoro was founded in 2007 by the Yoni brothers and Ronen Assia and David Ring. The company earns money thanks to costs related to exchanges and activities without exchange such as withdrawals. Net profit increased almost thirteen times last year to 192.4 million dollars, compared to $ 15.3 million in 2023.

The company has regularly built a growing business in cryptocurrencies. Crypto-evaluators’ revenues have more than tripled to more than $ 12 million in 2024 and a quarter of its net contribution from exchanges from the crypto last year. This increased by 10% in 2023.

Etoro said that for the first quarter, he expects cryptocurrency to represent 37% of his commercial activities committee, compared to 43% a year earlier.

Spark Capital is the largest external investor in the company, with 14% control after the offer, followed by the BRM group at 8.7%. CEO Yoni Assia controls 9.3%.

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