Robinhood Competitor EToro to Go Public Through Fintech SPAC
FinTech Acquisition Corp. is acquiring EToro, a popular European alternative to Robinhood. $FTCV, which offers crypto and stock trading in Europe, rose 43% on the news. In 2018, EToro began offering limited crypto trading in the U.S. The broker plans to expand stock trading into the U.S. later this year. Online sandbox game platform ROBLOX has had an excellent first week on markets. It quickly captured the attention of ARK Invest’s Cathie Wood, who added it to her $ARKW portfolio hours after IPO. This week, it’s getting another lift from Stifel, who has set $RBLX's price target at $85. The momentum from both retail and institutional investors has sent $RBLX rising nearly 7% today. iHeartMedia is fielding an investor offer to buy nearly half of the company, sending shares of the stock up 11%. The offer, which has been filed with the Federal Communications Commission for approval, allows Global Media & Entertainment Investments to increase its 8.7% stake in iHeartMedia to as much as 49.99% of the company. Global Media owns radio stations, predominantly in London. The deal for $IHRT is pending regulatory approval.