Today, eToro (ETOR), an app that allows users to trade stocks and cryptocurrency, made a significant entrance on the NASDAQ after receiving a substantial amount of funding for its initial public offering (IPO). With almost $310 million raised during the IPO, the company’s shares opened at over 30% higher than the IPO price, which boosted its market value to approximately $5.6 billion.
This week, eToro officially joined NASDAQ, having secured a successful funding round prior to its Initial Public Offering, as announced by CNBC. The stock’s opening price was set at $69.69 per share on Wednesday and surged more than 34% above its IPO price. By the end of the day, it maintained that strong performance, closing at approximately $67.90 per share.
eToro Corporation sold approximately 6 million shares at around $52 each, surpassing the anticipated price range of $46 to $50 per share during the sale. At the time of its Initial Public Offering (IPO), eToro’s market capitalization was roughly estimated at $4.2 billion. Investors view eToro as a promising rival to Robinhood, another publicly-traded stock trading app that made headlines for temporarily halting GameStop stock trades and being penalized $70 million due to it. With market conditions being volatile currently, eToro’s successful first day has generated optimism among investors.
On their successful inaugural day, eToro could be a noteworthy team to keep an eye on within the trading sector. Keep a close watch on our Market News topic for additional insights and tales about technological and gaming investment developments.
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2025-05-14 23:57