During the COVID-19 pandemic in 2021, retail investors caused a stock market frenzy by heavily buying GameStop, resulting in an epic squeeze on Wall Street hedge funds and propelling Robinhood, a US brokerage firm, to fame.
Taking advantage of the trading frenzy, Robinhood went public in New York and offered retail investors the opportunity to participate in its IPO. Social media platform Reddit also allowed some users to invest in the IPO and submitted its application to the SEC in February. However, eToro is unsure whether to follow suit and allow customers to directly invest in its IPO.