Finance

Stock trading app eToro IPOs, debuts on Nasdaq

Published

3 weeks ago

May 14, 2025

Omar Marques | Sopa Images | Lightrocket | Getty Images

Shares of stock brokerage platform eToro popped in their Nasdaq debut on Wednesday after the company raised almost $310 million in its IPO.

The stock opened at $69.69, or 34% above its initial offering price, pushing its market cap to $5.6 billion at the open. Shares were last up more than 40%.

The Israel-based company sold nearly 6 million shares at $52 each, above the expected range of $46 to $50. Almost 6 million additional shares were sold by existing investors. At the IPO price, the company was valued at roughly $4.2 billion.

Wall Street is looking to the Robinhood competitor for signs of renewed interest in IPOs after an extended drought. Many investors saw President Donald Trump’s return to the White House as a catalyst before tariff concerns led companies to delay their plans.

Etoro isn’t the only company attempting to test the waters. Fintech company Chime filed its prospectus with the SEC on Tuesday, while digital physical therapy company Hinge Health kickstarted IPO roadshow, and said in a filing it aims to raise up to $437 million in its impending offering. CoreWeave tested demand with its IPO in March.

EToro had previously filed to go public in 2021 through a merger with a special purpose acquisition company (SPAC) that would have valued it at more than $10 billion. It shelved those plans in 2022 as equity markets nosedived, but remained focused on an eventual IPO.

“We definitely are eyeing the public markets,” CEO Yoni Assia told CNBC in 2023, adding that the company is “evaluating the right opportunity.”

EToro was founded in 2007 by brothers Yoni and Ronen Assia and David Ring. The company makes money through trading-related fees and non-trading activities such as withdrawals. Net income increased almost thirteenfold last year to $192.4 million from $15.3 million in 2023.

The company has steadily built a growing reputation in cryptocurrencies. Revenues from cryptoassets more than tripled to over $12 million in 2024 and one-quarter of its net trading contribution stemmed from crypto last year,. That’s up from 10% in 2023.

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Finance

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Published

2 hours ago

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Finance

Retirement account balances dip in Q1 2025 as savings rates hit record high

Published

4 hours ago

June 4, 2025

Business Finance News

Jack Otter and the ‘Barron’s Roundtable’ panelists share their best tips for how to prepare for retirement amid a market concerned with tariffs.

Retirement account balances dipped in the first quarter due to stock market turbulence. Still, people kept socking away money for their retirement, according to new data from Fidelity Investments.

The financial services company analyzed more than 50 million retirement accounts, finding that the average balances of 401(k), IRA and 403(b) accounts all saw small declines during the first three months of 2025.

The average 401(k) account balance decreased 3% quarter over quarter to $127,100, according to Fidelity Investment’s Q1 2025 retirement analysis.

IRA accounts had average balances of $121,983 and 403(b) accounts held $115,424 on average in the first quarter, 4% and 2% lower than the prior quarter, respectively.

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Fidelity largely attributed those declines to “market swings.”

The market was turbulent during the first quarter amid uncertainty surrounding tariffs and other policy issues, including popular index funds.

Still, retirement savings rates “stayed consistently high,” according to Fidelity.

For 401(k) accounts, employee contribution rates hit 9.5% during the first quarter, with the employer contribution rate coming in at 4.8%, according to its analysis.

Combined, the 14.3% savings rate for 401(k) accounts marked a “record” and the “closest it’s ever been to Fidelity’s suggested savings rate of 15%,” the company said.

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Holders of 403(b) accounts, meanwhile, had a rate of 11.8% on average.

“Although the first quarter of 2025 posed challenges for retirement savers, it’s encouraging to see people take a continuous savings approach which focuses on their long-term retirement goals,” Sharon Brovelli, president of workplace investing at Fidelity, said in a statement. “This approach will help individuals weather any type of market turmoil and stay on track to reach their retirement goals.”

During the first quarter, which was plagued with market volatility, 17.4% of 401(k) holders upped the size of their contributions, while only 4.9% lowered theirs, the report found.

Meanwhile, contribution rates among 14.6% of 403(b) holders went up in the first quarter.

Only a small percentage of people with those types of retirement plans altered their asset allocation during the first quarter, with just 6% of 401(k) users doing so and 4.7% for 403(b), it found.

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Fidelity’s analysis also showed that people with IRAs upped the amount of money that they put in those retirement accounts in the first quarter by 4.5% compared to 2024’s first quarter.

A separate survey released Monday by Gallup found 59% of U.S. adults have funds put away in a retirement savings account.

Among those with retirement savings plans that have not yet left the workforce, half reported they “expect to have enough to live comfortably in retirement,” according to Gallup.