Latest news with #EToro
Yahoo
5 days ago
- Business
- Yahoo
Will This Profitable IPO Follow CoreWeave's Lead?
Shares of new issue eToro Group are near new highs as the trading platform shakes off a post-IPO dip and nears a buy point and other IPO stocks rally. EToro stock is forming an IPO base with a 74.28 buy point, according to IBD MarketSurge pattern recognition. Like many new issues, eToro stock has been volatile.
Bloomberg
02-06-2025
- Business
- Bloomberg
Software Remains the Missing Ingredient in US IPO Rebound
May's string of successful technology company debuts is reigniting optimism that the once-prolific enterprise software sector will soon resurface as a significant contributor to the US deal mix. Robust initial public offerings last month from EToro Group Ltd., Hinge Health Inc. and MNTN Inc., as well as strong early demand for this week's IPOs from Circle Internet Group Inc. and Omada Health Inc., point to a much improved market for first-time stock sales from companies spanning fintech, digital health, adtech and crypto. Technology IPOs on US exchanges have raised $3.55 billion in the year to date, a slight increase on the same period last year, data compiled by Bloomberg show.
Bloomberg
15-05-2025
- Business
- Bloomberg
Trading Platform EToro Makes Its Market Debut
EToro CEO Yoni Assia discusses the company's upsized IPO and how it differentiates itself from competitor Robinhood. Assia joins Caroline Hyde and Ed Ludlow on 'Bloomberg Technology.' (Source: Bloomberg)
CNBC
15-05-2025
- Business
- CNBC
EToro IPO filing cites Israel-Hamas conflict as potential business risk
In eToro's IPO filing, ahead of the company's market debut on Wednesday, the stock trading platform spent over 1,500 words spelling out the potential risks of operating in Israel, home to corporate headquarters. While the current military conflict between Israel and Hamas hasn't "materially impacted" business, "the continuation of the war and any escalation or expansion of the war could have a negative impact on both global and regional conditions and may adversely affect our business, financial condition, and results of operations," eToro wrote in a section of the filing titled "Risks related to our operations in Israel." The company, which lets users trade stocks, commodities and cryptocurrencies, was founded in 2007 by brothers Yoni and Ronen Assia and David Ring, and is based in Bnei Brak, near Tel Aviv. In its prospectus, eToro referenced the attacks of Oct. 7, 2023, by Palestinian Islamist group Hamas on Israel. In the year and a half since then, the two sides have mostly been at war in the Gaza Strip, where tens of thousands of Palestinians have been killed and much of the area has been made uninhabitable. Tensions have also escalated with other designated militant groups in the region, including Hezbollah in Lebanon and the Houthis in Yemen. "It is possible that these hostilities will escalate in the future into a greater regional conflict, and that additional terrorist organizations and, possibly, countries, will actively join the hostilities," eToro wrote, adding that the magnitude of the conflict is "difficult to predict." Yoni Assia, eToro's CEO, told CNBC in an interview that the company's business is global, with operations worldwide. Regarding the challenges of being in Israel, Yoni Assia said "everything is in the risk factors." "We do hope to see more peaceful times," he said. "It's better for everyone and for our employees from a business point of view." EToro, which competes with Robinhood, had its Nasdaq debut on Wednesday. The stock popped 29% a day after eToro priced shares above the expected range. At the close of trading, the company was valued at about $5.4 billion. EToro's IPO comes as several tech companies get set to test the public markets following an extended drought dating back to the soaring inflation of 2022. After the attacks of Oct.7, thousands of Israelis were called up for extended active reserve duty that caused some disruption to the country's flourishing tech community. Ongoing obligations could "impact our competitive position and cause our sales to decrease," eToro wrote. Israel has also faced some backlash for its military campaign in Gaza. The eToro filing cited International Criminal Court warrants for the arrests of Prime Minister Benjamin Netanyahu and his former minister of defense, and calls for boycotts from activist groups as potential roadblocks for the business. The country has also been hit with credit downgrades from Fitch, Moody's and S&P Global that could harm eToro's operations, the filing said. Etoro said that intensified cyberattacks since 2023, and potential damages from armed attacks, could raise costs or incapacitate its workforce due to safety concerns. The company also highlighted tax law differences between the U.S. and Israel and the location of its executives as a potential risk factor. "It may be difficult to enforce a U.S. judgment against us, our officers and directors in Israel or the United States, or to assert U.S. securities laws claims in Israel or serve process on our officers and directors," eToro wrote.
Yahoo
15-05-2025
- Business
- Yahoo
This Trading App Just Minted Billions -- EToro IPO Pops 42% on Day One
EToro (NASDAQ:ETOR) just kicked the IPO market back into gear. Shares of the retail trading platform surged as much as 42% in its first day of trading, following an upsized $620 million offering that priced well above expectations at $52 per share. By midday Wednesday, the stock was trading around $72, pushing EToro's market cap close to $6 billion and nearly $7 billion on a fully diluted basis. Demand was hot. The offering was reportedly over 20x subscribed, and the company boosted the size from 10 million to nearly 12 million shares to meet investor appetite. This wasn't a quiet entry. Heavyweights including BlackRock signaled interest in scooping up $100 million worth of shares at the IPO price, according to filings. The deal was led by Goldman Sachs, Jefferies, UBS, and Citigroup another sign that institutional players are getting behind this new crop of tech-forward public debuts. EToro, founded in 2007, lets users trade stocks, crypto, and mimic top investors on its social-investing platform. The company had previously aimed to go public via SPAC at a $10.4 billion valuation but hit pause. It's now re-emerging into a market that's slowly thawing after tariff-driven IPO delays earlier this year. EToro's 2024 numbers gave investors more than just momentum to chase. The company reported $787 million in net contribution and $192 million in net income a massive jump from just $15.3 million in profits the year before. The listing isn't without caveats. Sanctions are currently blocking Russian-affiliated SBT Venture Fund from exercising voting rights or receiving shares. Still, the blowout debut could mark a shift: retail trading, fintech, and IPOs might all be staging a comeback and EToro is leading that charge. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
