Shares of eToro Group Ltd. rose 29% on their Nasdaq debut, signaling a positive trend for initial public offerings.
eToro offered 11,923,018 Class A common shares at $52 each, with the stock reaching a high of $74.28 and closing at $67 on the first day of trading.
Before the IPO, eToro reported $12.6 billion in revenue and $192 million in net income for 2024, showing significant growth from the previous year.
This successful IPO by eToro follows a failed attempt through a SPAC merger, and it is seen as a significant move in the fintech industry after a long IPO drought.