eToro Forex Broker shares jumped 30 percent on Nasdaq's debut, reaching a valuation of USD4.2 billion

In Forex broker news latest, eToro, popular social trading platform

Forex Broker eToro Initially the shares were at the price of $ 52, but at the closure of the market on Wednesday, the share price rose $ 15 to $ 67. Traded under the ethor ticker symbol, The eToro Market Valuation now reaches around $ 4.2 billion.

This public offering makes Forex Broker eToro sells nearly 12 million shares , exceeding the initial plan of 10 million shares, and managed to collect capital of around $ 619 million. More than half of the shares offered come directly from eToro, while the rest is sold by existing shareholders.

Trip eToro to the public market has faced previous obstacles. The initial plan to go public in March was postponed amid market instability. However, the success of recording other fintech companies, such as Coreweeave, in March gave new confidence.

The positive momentum of the debut This eToro is now reportedly encouraging other big fintech players , including Clarna and Chime, to rearrange their own plans for public offers.

Strong IPO Performance is increasingly equipped with strong eToro financial results for 2024. The company reported a net profit of $ 192.4 million, an extraordinary increase from $ 15.3 million in the previous year. This profit was achieved with a total revenue of $ 2.64 billion, although this was a decrease of $ 3.43 billion in 2023.

Specifically, crypto trading activities play an important role in the performance of 2024, contributing 25% to total trading volume, marks a 10% increase from 2023. As a result, the income generated from crypto trade has tripled to more than $ 12 million.