eToro Group Ltd. · NASDAQ Global Select · priced May 14, 2025 · $620M raised · Over $250M
Price since listing
- Hype
- Distribution
- Lock-up window
- Valley
- Accumulation
- Recovery
Volume bars are coloured by lifecycle phase. Markers: lock-up and early release (orange), earnings releases (E), follow-on offerings (F), research signals (rule id and signal; arrow up = buy signal, arrow down = sell or short signal, or sell signal for deals under $50M). Current phase: Valley.
Performance since the IPO
- ETOR
- S&P 500 (SPY)
- Typical IPO over $250m
- Middle 50% of those IPOs
ETOR measured from its offer price; S&P 500 from the first trading day. The typical-IPO line is the median of 340 over $250m IPOs from 2014–2025, by trading day.
Company
eToro Group Ltd. engages in the trading business. Its multi-asset platform supports trading and investing in equities, crypto assets, commodities, currencies, and options, which can be traded either as assets or as derivatives related to various underlying asset types. The company also operates eToro Club, a membership program providing a range of services and tools to enhance a user's investment experience; eToro Ac…
- Sector
- Financial Services
- Industry
- Capital Markets
- Country
- Israel
- Employees
- 1,520
- Market cap
- $1.8B
- Website
- www.etoro.com
From the prospectus
- Lock-up
- 180 days
- Early release on earnings
- Yes
- Price-based early release
- at 125% of offer
- Staggered release
- No
- Float sold in IPO
- 15%
- Locked shares per share sold
- 5.9×
- Backed by
- Venture capital
- Lead underwriters
- Goldman Sachs & Co. LLC, Jefferies LLC, UBS Securities LLC, Citigroup Global Markets Inc.
- Dual-class shares
- Yes
- Controlled company
- No
- Foreign private issuer
- Yes
Early-release terms: For lock-up parties that are not directors, officers or affiliates, 30% of Lock-Up Securities are released on the first trading day that (x) is at least 90 days after the prospectus date, (y) comes after the company has furnished at least one quarterly earnings release on Form 6-K or filed an annual report on Form 20-F, and (z) the closing price is at least 125% of the IPO price for any 5 of 10 consecutive trading days ending on that date. The release takes effect two full trading days after that Applicable Date. If the Applicable Date falls in a black-out period, it is deemed to be the first trading day after the black-out ends.
Extracted from the final prospectus on SEC EDGAR.
Returns vs offer, compared with 135 IPOs over $250m
| Horizon | ETOR | Peer median | Peers below offer |
|---|---|---|---|
| Day 1 | 0.0% | +12.8% | 24% n=135 |
| Day 20 | +28.8% | +11.6% | 30% n=133 |
| Day 60 | +8.4% | +6.3% | 47% n=129 |
| Day 120 | -28.7% | -4.6% | 54% n=106 |
| Day 180 | -41.9% | -4.1% | 52% n=89 |
Research signals
- BuyRule C1: buy signal for 40 sessionsJan 29, 2026 · CapitulationPast signals (652, deals of $50M and over): rose 53% · median +2.1% · dropped 25%+ during the hold 33%backtest
Buy signals passed on returns relative to IPOs of the same year, size and age, most of which fall after listing. A buy signal can beat its peers and still lose money.
- BuyRule T1: buy signal for 60 sessionsJul 15, 2025 · Pre-unlock qualityPast signals (642, deals of $50M and over): rose 47% · median -2.6% · dropped 25%+ during the hold 35%backtest
Buy signals passed on returns relative to IPOs of the same year, size and age, most of which fall after listing. A buy signal can beat its peers and still lose money.
- BuyRule RL: buy signal for 60 sessionsJul 15, 2025 · Pre-unlock risk tierPast signals (329, deals of $50M and over): rose 54% · median +1.3% · dropped 25%+ during the hold 22%backtest
Buy signals passed on returns relative to IPOs of the same year, size and age, most of which fall after listing. A buy signal can beat its peers and still lose money.
- Sell or shortRule R20: sell or short signal for 100 sessionsJun 10, 2025 · Day-20 risk tierPast signals (118, deals of $50M and over): fell 70% · median -24.6% · rallied 25%+ during the hold 55%backtest
Short-selling risk: losses on a short position have no limit and can exceed the amount put up; brokers can demand more margin, recall borrowed shares or close the position; borrow fees and any dividends are owed while short and are not in the figures shown; recent IPOs are often hard to borrow and prone to squeezes.
Rules frozen as v1; signals dated from Oct 29, 2026 are live, earlier ones show what the frozen rules would have flagged. See methodology.
The rules run independently, so one IPO can carry buy and sell signals at the same time; each label reports only its own rule's history.
Past figures cover all 4,312 signals the published frozen v1 rules produce on 2014–2025 IPOs, close to close over each signal's holding period. Returns start at the close of the signal session; signals are published after that close, so the first price available to a reader is the next session's. Only 1,192 of 2,368 operating-company IPOs from those years have usable Yahoo Finance price data; most of the rest no longer trade under their IPO ticker (delisted, acquired or renamed), so the figures probably understate declines. These are hypothetical results, not trades: the rules were selected on these same years with the benefit of hindsight, so the figures likely overstate what live signals will do. The live track record is the real test. Trading costs and borrow fees are not included. Past results do not predict future results.
Research signals only, not investment advice. Lock-up terms come from prospectuses; prices from Yahoo Finance and may be delayed or wrong.