PANews reported on November 11th, citing Techinasia, that eToro, the Israeli trading platform that went public in New York six months ago, announced it will spend $150 million to repurchase shares, given that its stock price has fallen by approximately 30% from its initial public offering (IPO) price. This repurchase is unusual for a company that has only recently gone public, suggesting that management believes its stock is undervalued. The company's third-quarter report showed net income of $56.8 million, up from $38.5 million in the same period last year. Net contributions increased by 28% to $215 million; the number of active deposited accounts increased by 16% to 3.7 million; and assets under management surged by 76% to $20.8 billion. While eToro also supports stock investment and social trading, the majority of its business remains focused on cryptocurrency trading. According to previous reports, eToro's revenue from crypto assets reached $3.97 billion in the third quarter, with corresponding costs of $3.89 billion.PANews reported on November 11th, citing Techinasia, that eToro, the Israeli trading platform that went public in New York six months ago, announced it will spend $150 million to repurchase shares, given that its stock price has fallen by approximately 30% from its initial public offering (IPO) price. This repurchase is unusual for a company that has only recently gone public, suggesting that management believes its stock is undervalued. The company's third-quarter report showed net income of $56.8 million, up from $38.5 million in the same period last year. Net contributions increased by 28% to $215 million; the number of active deposited accounts increased by 16% to 3.7 million; and assets under management surged by 76% to $20.8 billion. While eToro also supports stock investment and social trading, the majority of its business remains focused on cryptocurrency trading. According to previous reports, eToro's revenue from crypto assets reached $3.97 billion in the third quarter, with corresponding costs of $3.89 billion.