eToro chief Yoni Assia outlines $231 million TradeZero buy amid profit surge and share slump
eToro CEO Yoni Assia announced a $231 million acquisition of TradeZero, noted a 77% jump in quarterly profit to $53 million, and explained why the stock has fallen more than 40% since its Nasdaq debut.
Yoni Assia, who launched eToro with his brother Ronen almost twenty years ago, said the company posted a $53 million net profit for the second quarter, a 77% rise from the prior period. Nevertheless, eToro's shares have slipped more than 40% since the firm went public on Nasdaq a year ago. In response, the platform is acquiring U.S. specialist TradeZero for $231 million to broaden its offering for advanced traders, particularly those engaged in short selling.
Assia highlighted additional recent deals, including the purchase of crypto-wallet provider Zengo and Israeli exchange Bit2C, to deepen eToro's presence in digital assets and its home market. He described the United States as a key growth engine, targeting a nine-digit revenue stream by the end of the decade. While acknowledging heightened political and market volatility, Assia remains optimistic about long-term capital-market returns and expects cryptocurrency prices to eventually surpass previous highs within the next four years.
Why it matters
The deal shows eToro's push to expand in the U.S. and diversify its services despite a falling stock price.
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