eToro Enters The Chat with $69.69 Starting Price, Summoning 13 Year Old Reddit Mods to Bless IPO…

eToro IPO’d at $69.69… you can’t make this up. 

Sure, shares opened at a number that might as well have been selected by a 13-year-old Reddit mod… but when I say they started off with a bang, they did. In short, eToro had priced its shares at $52 the night before… which was already above the projected $46 to $50 range (like mentioned in yesterday morning's article). 

(Source: Giphy) 

However, opening at $69.69 put eToro up 34% before the market even had time to process what was happening. It eventually closed the day at $67, still up nearly 29% from the IPO price. Market cap: north of $5.4 billion. For context, that's about a billion dollars more than it was worth just 24 hours prior, because Wall Street got excited about a brokerage app that didn’t completely fall apart in 2022. 

Vlad Tenev (read: Citadel’s boy toy Robinhood CEO) must be big mad right now as his direct competitor raised over $600 million from the offering, with nearly six million shares sold directly by eToro and another chunk unloaded by existing investors cashing out while the window is still open. At the IPO price of $52, eToro was valued at roughly $4.2 billion. By the end of trading day one, that number had inflated by more than a billion dollars, because that’s simply how IPOs work. Fast cash baby. 

(Source: CNBC) 

Keep in mind, this bigly win for eToro and the IPO markets was the icing on the cake of years of delays. The company had originally planned to go public via SPAC in 2021, at a valuation of more than $10 billion. That deal disintegrated in the aftermath of the post-SPAC extinction event, at which point the company went quiet. Now, in 2025, it's revamped… alongside an IPO market that’s been on life support since interest rates started rising and everyone realized profitability was, in fact, not optional.

To be fair though, the company’s financials look more stable than they did back when SPACs roamed freely. Net income jumped from $15.3 million in 2023 to $192.4 million in 2024… and like mentioned, crypto trading made up roughly one-quarter of its net trading contribution last year, up from 10% in 2023. This year, crypto commissions are expected to account for 37% of trading revenue in Q1. 

(Source: Giphy) 

As for current insider holdings, Spark Capital now owns 14% of the company. CEO Yoni Assia holds a 9.3% stake. BRM Group controls another 8.7%. The only question now is, will eToro continue its IPO frenzy? Or will it ultimately crash and burn like so many of its predecessors have done… especially in this market? 

Only time will tell, but it’s obvious eToro injected a flood of euphoria into the markets yesterday. If a 30% surge on Day 1 of its debut doesn’t have investors fully bricked up… I have no doubt that the “sign” of a $69.69 official opening price does. Of course, do what you will with this information and place your bets accordingly. 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.