eToro Shares Rocket 30% in Nasdaq Debut—Retail Traders Cheer (For Now)

Wall Street’s latest fintech IPO delivers the dopamine hit retail investors crave—at least until the next earnings report drops.

The trading platform’s stock surge proves meme-stock energy is alive and well, just with slightly better compliance paperwork.

Analysts whisper about sustainability while day traders smash the buy button—some things never change in the casino.

The company initially aimed to raise $500 million by selling 10 million shares but ended up selling nearly 11.92 million shares, split between eToro and existing shareholders.

According to a May 5 SEC filing, funds managed by BlackRock showed interest in buying up to $100 million worth of shares. Robert Francis, eToro Australia’s managing director, said the IPO highlights how retail investing is here to stay and not just a passing trend.

In contrast, eToro’s rival Robinhood (HOOD) saw its stock fall by 1.9% to $61.39, dropping further after hours. eToro reported $12.1 billion in crypto revenue for 2024, a sharp rise from $3.4 billion in 2023. However, it expects crypto’s share of total trading commission to dip from 43% in Q1 2024 to 37% in Q1 2025.

The IPO was led by Goldman Sachs, Jefferies, UBS, and Citigroup, and marks a comeback for IPOs after delays due to Trump’s recent tariff moves.

Also Read: Coinbase Stock Surges on S&P 500 News: Can it Reach $500?