The shares of the Israeli trading and investment firm eToro Group Ltd. (Nasdaq: ETOR) jumped 40% as its U.S. initial public offering (IPO) debuted on Nasdaq on May 14.
eToro made the public listing debut with the IPO price of $52 a share. The stock opened at $69.69 but surged to $74.28 soon enough, reflecting an overall rise of 40%.
Founded in 2007, eToro lets users trade stocks, cryptocurrencies and other leading assets. Its iconic social investing feature lets users mirror the trading strategies of top investors.
The firm earned $931 million in commission with a net profit of $192 million in 2024. It served 3.5 million user accounts registered across 75 countries as of the end of 2024.
eToro is backed by prominent investors such as the SoftBank Vision Fund 2, ION Group, and Spark Capital. Goldman Sachs, Jefferies, UBS and Citigroup are leading eToro's IPO.
The firm that was forced to delay its IPO due to President Donald Trump's global tariff escalations in April is the first one to go public since then.
It earlier tried going public through a merger with Betsy Cohen-backed special purpose acquisition company (SPAC) at a valuation of $10.4 billion in 2021, but pulled back later.
Now, the trading platform is offering 11.91 million shares at its Nasdaq debut and aims to raise up to $620 million.
After its impressive listing, the firm has secured a valuation of $5.64 billion.
At the time of writing, the stock was trading at $67.79.