BREAKING: eToro Finally Goes Public, Miraculously IPO’s Above Range At $52…

Soooo, eToro just IPO’d at $52 per share… above range… and no one seems to be asking the obvious question: how the hell did this happen? This is a company that’s been trying to go public since the Before Times. First it was a SPAC merger in 2021 that never got SEC approval. Then a 2022 market debut that got eviscerated… then they tried again in March until Trump’s “Liberation Day” tariff announcement nuked the market like it was a hobby. Klarna and StubHub fled the IPO calendar in the same week. eToro hit pause. Again.

 

(Source: Giphy) 

And yet, now… like some market-resilient cockroach that feeds off hype and low interest rates, eToro is back. Not just back, but IPOing above expectations in a market that still treats IPOs like radioactive assets. The company priced at $52, above the $46–$50 range, raising nearly $620 million and landing a $4.2 billion market cap valuation. 

Naturally, the IPO is being spun as a comeback story. But the facts are weird enough on their own. Net income jumped from $15 million in 2023 to $192 million in 2024, which is either an impressive turnaround or a red flag disguised as a balance sheet. Revenue jumped $12.6 billion, up from $3.89 billion. Crypto income more than tripled and now makes up a full quarter of the company’s trading contribution. Because of course it does.

(Source: CNBC) 

Keep in mind, this is eToro, a trading platform that monetizes spreads, trading fees, and withdrawal charges. The Robinhood model, but with more crypto and more existential risk. And now it’s on the Nasdaq under the ticker $ETOR… ready to take their target audience’s rent money. Additionally, the IPO was led by Goldman Sachs, Jefferies, UBS, and Citigroup. BlackRock expressed interest in dropping $100 million into the offering, which is either a vote of confidence or a quiet admission that there’s simply too much capital sloshing around with nowhere else to go.

What’s more is that this has come as a bigly pay day for insiders. CEO Yoni Assia is selling over half a million shares, potentially netting $27.5 million. His brother Ronen is offloading another 254,901 shares. Spark Capital, BRM Group, and Andalusian SPV (run by ex-Appaloosa COO Jeff Kaplan) are all taking their slice. The voting power dilution is real, but apparently no one cares. Because profit.

(Source: Axios) 

For the IPO market, this tells us it may be coming back to life. IPOs had been comatose since 2021, a year so cursed that only 17.4% of listings are still above their offer price. But now there’s movement. CoreWeave opened the door in March. Hinge Health, Chime, and Circle are lining up. The pipeline is creaking back to life and eToro is stepping onto the Nasdaq with big swingin’ energy. 

Of course, it’s too early to say if this marks a real reopening of the IPO window or just another short-lived spike in a still-fragile market. But the fact that a trading app with a crypto-heavy business model, a history of delayed exits, and a user base that probably thinks “futures” are a dating app feature just pulled off a $52 debut? It’s definitely not something to overlook.

(Source: Giphy) 

Meaning, keep your eyes on eToro as they officially make their Nasdaq debut this morning, and place your bets accordingly. It could be a frenzy, or absolute chaos. No in between. Until next time, friends…

P.S. Oh, I’m sorry, I didn’t know you liked getting rekt. Let’s face it, retail investors get the short end of the stick all day everyday. It’s the smart money’s world, and we are just living in it–only useful when it comes to liquidity purposes in the market. Meaning, if you’re as pissed off as I was when I found out Milli Vanilli was lip syncing the whole time, then it’s time to go from investing blind, to investing smart. Luckily for you, the key is right here as a Stocks.News premium member. Click here to see exactly how our premium members are printing while others quake in the face of today’s market chaos. 

Stocks.News holds positions in Robinhood as mentioned in the article.