eToro launched a $150 million stock buyback program after its stock price plummeted.

Israeli trading platform eToro, which went public in New York a month ago, announced it will spend $150 million to repurchase shares, given that its stock price has fallen by about 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. While eToro also supports stock investment and social trading, the majority of its business remains focused on cryptocurrency trading.