How does eToro go public, and what will the eToro stock symbol be?
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Since 2007, eToro has appeared in the financial markets and is an easy platform to trade and invest online. Trading platform eToro is listing shares through an IPO backed by Betsy Cohen. With the news that eToro is going public, many traders have been looking forward to knowing the eToro stock ticker symbol and investing in this stock.
General information about eToro
eToro is a trading platform founded in 2007. eToro is known as an easy platform to trade and invest online.
As of now, eToro has over 20 million registered users from over 100 countries around the world; becoming the number 1 social trading network globally, allowing investors to access a wide variety of unique trading tools, different asset classes such as stocks, commodities, indices, cryptocurrencies, forex, and Social Investment right on their website.
The most significant success that eToro has achieved is branding as a “social trading network” where investors can share their opinions on the market while also copying trades of those who work best on the system.
Along with that, eToro has created an investor community with transparent trading information that makes it easy to exchange, learn and even automatically copy another professional investor. This makes eToro so attractive that it is an online investment social network, not just a typical trading platform.
After more than a decade of establishment and development, eToro has so far become a pioneer in the global Fintech revolution.
Following that strong momentum, the issuance of shares to the public is also an inevitable step in the development process of eToro. This will help eToro’s reputation improve, quickly increase market share, and expand into new markets. Furthermore, investors on eToro themselves can also invest and profit from eToro shares.
How does eToro become publicly traded via?
The eToro trading platform chooses to list shares through the form of SPAC.
SPACs (Specified Purpose Acquisition Company) are companies in the growing (or newly established) stage, without specific business plans or goals, formed to participate in acquisitions and merged with another company. SPAC companies are allowed to conduct IPOs and sell their securities under the US Securities and Exchange Commission (SEC) regulations.
Why would a company list through SPAC?
- Shorter IPO time: Unlike startups, which will have to go through various processes with the regulator, it can take more than six months. However, if the company goes public through SPAC, the time is shorter (about two months) because the company only raises capital from 1 investor instead of dozens of investors.
- No IPO delay due to market volatility: Since the IPO price depends on stock market conditions and its volatility, some companies have to wait for the right time to list their shares through an IPO. Tradition, or even cancel their IPO plans. But they don’t have this problem through SPAC because the money has already been raised.
Which exchange will eToro goes public, and what will the eToro ticker symbol be?
Immediately upon closing the proposed transaction, the name of the incorporated company will be eToro Group Ltd. and will likely trade on NASDAQ.
The ticker symbol after closing will be revealed in due time.
Can eToro investors trade FTCV stock symbol?
Yes, FinTech Acquisition Corp. V stock is on the eToro platform with the ticker symbol FTCV.
However, you should note that:
- FTCV and other SPACs are available on eToro, available to trade with long (BUY) positions.
- CFDs that include short or leveraged positions are not available.
- FTCV and other SPACs are available on eToro, are not available through copy trading, and are not included in any of our CopyPort Catalogs.
How is eToro IPO plan?
eToro first announced its plans to list in March through a $10.4 billion merger with Betsy Cohen’s FinTech V SPAC. It expects the procedure to be completed by the third quarter of 2021. However, in its most recent filing with the US Securities and Exchange Commission, the Israeli company said the merger between investment platforms Social, eToro, and US SPAC Fintech Acquisition Corp had been delayed until Q4 2021.
According to SEC filings, one of the reasons for this delay was the failure to receive the necessary approvals from FTV and eToro shareholders described in this proxy statement/prospectus.
This had left SPAC shares in low demand compared to when Etoro revealed its initial IPO plans. Accordingly, the stock is currently trading at $9.93, down about 35 percent from its March high of $15.29.
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