Public market investors seem to be showing increasing concern over online broker eToro (NASDAQ:ETOR), sending shares of the company down by another 2.7% on Friday. eToro shares set an all-time low (since eToro’s May 2025 IPO) at $29.05 during Friday’s session, before closing the day at $29.40 – the first time that eToro shares have closed below the $30 level.

eToro IPO

eToro went public as noted above last May at $52 per share. At $29.40, the shares are now down 43% from the IPO price, as the company’s valuation has dropped below $2.5 billion from more than $4.2 billion at IPO.

The continued move downward comes about two weeks before eToro is scheduled to report its Q4 and full year 2025 results, expected to be released by the company on February 17. It also comes soon after Israel news source Calcalist reported that eToro is set to lay off about 7% of its 1,500 person workforce, or more than 100 employees.

XTB and Plus500

Interestingly, the move down also comes as Q4 results are starting to trickle in from other online brokers, such as Poland based XTB, which so far have been very encouraging. (Plus500 as well). XTB reported record Revenue in Q4, led by banner Gold CFD trading among its client base. XTB has a much different client base (geo-wise) and asset trading mix among its clients, but it does seem that heightened price volatility in commodities, FX rates and crypto prices during Q4 made for good conditions for retail brokers.

We’d also note that eToro’s 2.7% decline Friday – the latest move down which has seen eToro shares fall by 16% in the first month of 2026 – contrasts sharply with the 11.7% move up Friday in XTB shares, after the company reported results following the close of trading on Thursday.

eToro share price chart, IPO (May 2025) to present. Source: Google Finance.