The Etoro IPO is a proof of market recovery as it aims to be the preferred investment application, co-founder says

The newly released Etoro is now successfully trading on its own platform.

Its stock moves were shocking after its debut on Nasdaq Island on Wednesday. Etoro's stock opened at $69.69, 34% higher than its IPO pricing. The stock rose 29% to $67, bringing the company's market capitalization to $5.4 billion.

Stocks fell about 3% on Thursday. The company's stock webpage remains the most active on Yahoo's financial platform.

“I do think that since 'Liberation Day', it's obviously a long way to go. It's not about Etoro, but you know, we've seen a lot of great investors and it's been an amazing experience for us.

The company set its IPO at $52 per share late Tuesday, up from $46 to $50 a share. It raised about $3.11 billion in product by selling 6 million shares.

The sales value of Etoro is US$4.2 billion. The company's IPO roadshow is valued at $4 billion. Competitor Robinhood (Hood) (has made a series of acquisitions over the past two years to become an emerging asset manager with a market capitalization of $51 billion.

Etoro was co-founded in 2007 by Yoni and his older brother Ronen Assia. Yoni said the company was founded in his parents' garage on large internet servers. Ronen sits on the management team and is the executive director.

The company was established quickly as new investors entered a bull market, initially raising $1.5 million at a $5 million valuation. It started Bitcoin trading in 2013, when crypto winter reduced the value of digital assets.

The team behind Etoro has seen the public market before, but chose not to pull the trigger. It plans to be publicized in 2022 through a special purpose acquisition company (SPAC), which will put the business at an estimated $10.4 billion. The deal broke down after more scrutiny in the government review of the once-popular SPAC IPO process.

It then raised $250 million in 2023 at a valuation of $3.5 billion.

Just last month, it delayed market volatility related to the Trump administration's trade war, delaying investors' IPO introductions.

Today, Etoro has 40 million registered users across 75 countries.

The financial results for the first quarter were mixed. Before President Trump's “liberation day”, investment hindered profits to capture new customers with a high level.

Etoro's prospectus for the quarter ended March 31:

• Fund Account: +14% year-on-year was 3.58 million

• Adjusted EBITDA: $76 million to $80 million, down 10% from midpoint

• The company earns 43% of trading commissions from stock trading, while Crypto's 37%