MW Newly issued eToro shares jump in Nasdaq debut. It's a bullish sign for IPOs.

By Steve Gelsi

The mobile trading platform's stock is on a run in its first day of trading, elevating hopes for upcoming stock-market debuts

After its initial public offering, eToro Group Ltd. saw its stock open on the Nasdaq above an upped IPO price and then rise further in a strong trading debut for the mobile stock and crypto trading firm as one of the first major IPOs on Wall Street since the window abruptly shut for new issues last month.

The newly issued stock (ETOR) opened at $69.69 and rose to $72.42 in afternoon trading. At current levels the stock is up $20.42 a share, or about 39% over its IPO price of $52.

Signs of strong demand came late Tuesday when eToro priced 11.9 million shares at $52, above an estimated price range of $46 to $50, to raise about $619 million with underwriters Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup.

The company also increased the size of the offering from 10 million shares to meet buyer demand.

Chief Executive Yoni Assia co-founded the company in 2007 with his brother "as a result of the passion for financial markets that we experienced at home and an awareness of a need to provide better and simpler tools to access them," he is quoted as having said in eToro's IPO prospectus.

The company has since built it up to 40 million registered users in 75 countries with a platform on which to trade stocks and cryptocurrencies via mobile devices.

"One of the core principles of eToro is the belief that knowledge should be shared, not hoarded," Assia said. "We've created a platform where users can learn from one another, share their experiences, and grow together."

This was one of several "notable" IPOs that were tabled in April as the stock market reeled amid uncertainty over President Donald Trump's trade policies, according to IPO fund manager Renaissance Capital.

"Now," Renaissance Capital Chief Executive Bill Smith said in a note to clients, "it's the first of the group to test the waters."

Also read: Crypto broker eToro's upsized IPO to test the waters for stock-market newcomers

-Steve Gelsi

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May 14, 2025 13:24 ET (17:24 GMT)

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