Stock trading app eToro pops 29% in NASDAQ debut
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Shares of eToro ( ETOR 30.96%) are soaring in their trading debut on Wednesday. The stock and crypto trading platform's shares surged 28.2% as of 2:20 p.m. ET after opening at $69.69, which was 34% above its initial public offering (IPO) price of $52. The impressive debut comes as the S&P 500 was flat while the Nasdaq Composite gained 0.5%.
With shares surging to $67 and a market capitalization of $5.4 billion, eToro has made a splashy entrance into the public markets. But should you pick it over Robinhood?
Toro (ETOR) shares surged 32% in their first day of trading on the Nasdaq after the Israeli stock and crypto trading app raised some $310M in an initial public offering that priced above its expectations.