You Won’t Believe eToro’s 30% Nasdaq Surge! Here’s What Happened!

by

Well, well, well. Just when you thought the stock market couldn’t get any more exciting, eToro goes and pulls a stunt that’s got Wall Street doing a double-take. The crypto and stock trading platform saw its share price skyrocket by nearly 30% on its debut at Nasdaq, thanks to a little last-minute magic (AKA, an upsized IPO). 😲✨

On May 14, eToro Group Ltd (ETOR) wrapped up the day at a cool $67 per share, up 28.9% from its opening price of $52. Hold on, folks, that bumps the company’s market value to over $5.5 billion. 💰 Talk about a glow-up. 🙌

And the rollercoaster didn’t stop there. At one point during the trading day, the price soared to $74.26 before, naturally, it cooled off a bit and dipped slightly by 0.7%, settling at $66.53 after hours. No one can resist a little post-debut dip, right? 😅📉

The real fun started on May 13, when eToro decided to up its IPO game to a whopping $620 million, choosing to price shares higher than initially expected—$46 to $50? Pfft. How about $52 a share! 😎💥

At first, eToro planned to raise a modest $500 million by selling 10 million shares. But surprise, surprise! They sold over 11.92 million shares instead, with eToro and some of its existing shareholders splitting the load. More shares = more fun, apparently. 🤩💸

In a stroke of savvy, BlackRock-managed funds (yes, those BlackRock people) showed some love for the IPO, signaling interest in buying up to $100 million in shares. No big deal. 🤑

Meanwhile, over in Robinhood’s world, things were decidedly less glamorous. Robinhood Markets Inc. (HOOD) saw its stock slip 1.9% to $61.39, and after hours, it took another hit, dropping 1.63% to $60.39. Oopsie. 😬

Now, let’s talk numbers. According to eToro’s filing, its crypto revenue for 2024 was a jaw-dropping $12.1 billion, up from $3.4 billion in 2023. Clearly, the crypto world isn’t going anywhere anytime soon. But hey, crypto only accounts for 37% of their commission revenue in Q1 2025, down from 43% in Q1 2024. Who knew? 🧠💡

Leading the IPO charge were Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup. No small names in that crowd, folks. 💼

IPOs Rebound After Tariff Turmoil (Thanks, Trump?)

eToro’s public debut is part of a much-needed rebound for IPOs in the US, after tariffs put many companies’ plans on ice. Remember the good old days when Trump’s tariffs were shaking things up? Yeah, eToro had to delay their IPO thanks to that lovely April 2 “Liberation Day” tariff debacle. Tariffs: the gift that keeps on giving. 🙄🎁

Fun fact: eToro was originally going public in 2021 via a SPAC merger (remember those?) at a $10 billion valuation. That plan? Canceled. Why? Oh, just a little thing called the COVID-19 pandemic and inflation. 🙃

But wait—there’s more! eToro’s IPO wasn’t the only one affected. Crypto exchange Kraken was considering going public this year, along with stablecoin issuer Circle. Both hit pause thanks to tariff chaos. Talk about a tough year for IPOs! 😓

And just in case you missed it, there’s a whole bunch of other crypto firms planning to go public too—Figure, Anchorage Digital, and Chainalysis. It’s a crypto party, and everyone’s invited! 🎉🚀

Trade Secrets: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains

Read More

2025-05-15 04:10