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eToro shares pop 29% in first day of trading post IPO

eToro’s $67 share price close now attributes a valuation of $5.5 billion to the company.

Half of the shares offered in the eToro IPO are newly issued shares from the company, and half are from selling shareholders.

Webull shares have declined by 80% over the past three weeks since closing its SPAC IPO, providing more headwinds for eToro.

eToro was planning to raise between $300 and $400 million in its IPO offering, at a pre-money valuation of $4.5 billion.

Yoni Assia: Client trading volumes at eToro are rising to “levels of activity that we haven’t seen since 2021.”

eToro has purchased a company called Deep, which focuses on content automation.

The share sales are being offered at a valuation for eToro of about $1.7 billion, less than half of what it was valued at earlier this year.