July has seen meme stock trading make a comeback, with heavy activity in companies like Opendoor (OPEN), Krispy Kreme (DNUT), GoPro (GPRO), and GameStop (GME). Interestingly, Yoni Assia, co-founder and CEO of trading platform eToro (ETOR), said that this rise in retail trading does not surprise him. In an interview with Yahoo Finance, he described it as part of a larger shift in financial markets, and called it “the largest transformation of wealth in human history from older generations to younger generations.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
As a result, eToro announced that it will begin offering 24-hour, five-day-a-week trading on 100 of the most popular stocks and ETFs. The move places eToro in direct competition with Robinhood (HOOD) as both firms push for fully around-the-clock trading. Assia explained that true 24/7 trading will take longer to develop since markets are closed on weekends and liquidity is limited. Still, he expects 24/5 trading to spread across more asset classes in 2025 and 2026.
eToro also announced plans for spot-quoted futures and hinted at listing U.S. equities as tokens on the Ethereum blockchain. It is worth noting that eToro went public in mid-May at $52 per share and now trades near $60.30, giving it a market value of about $4.9 billion and over 40 million registered users. By comparison, Robinhood and Interactive Brokers (IBKR) are valued at $95 billion and $111 billion, respectively.
Is ETOR Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ETOR stock based on eight Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ETOR price target of $74.73 per share implies 23.9% upside potential.
