eToro hires analyst Callie Cox to increase focus on US market

Her passion for the power of investing closely aligns with our core ideals as we work to increase our focus on the U.S. market.

eToro has appointed Callie Cox as Investment Analyst for the U.S. market as the multi-asset platform doubles down on the financial knowledge made available to its global community of investors.

Based in Charlotte, N.C., Callie Cox will be in charge of providing expert analysis of U.S. market trends and sharing practical insights for eToro users looking to make investment decisions.

Behavioral psychology meets investment insights

Callie Cox joins eToro from Ally Invest, where she held the role of Senior Investment Strategist and played an important role in educating Ally Invest’s customers through a variety of reports, timely market alerts, and strategic initiatives like videos, social projects, and live events.

She was a public face for Ally Invest as she made her name for herself by integrating behavioral psychology principles with investment education insights to connect with younger investors.

Prior roles include Senior Research Analyst at LPL Financial and other positions at First Citizens Bank, TABB Group, and Bloomberg. She holds a Series 7 and 66 FINRA licenses.

Lule Demmissie, Chief Executive Officer at eToro US, said: “We’re thrilled to welcome Callie Cox to the eToro team. Her passion for the power of investing closely aligns with our core ideals as we work to increase our focus on the U.S. market. Callie also brings with her extensive knowledge of capital markets, including trends and economics in equities, derivatives and fixed income. Her professional experience and personal drive make her the perfect fit to help grow eToro’s vision for the future as we scale our current product offering for U.S. users.”

Callie Cox, Investment Analyst at eToro US, added: “I’m extremely excited to be joining the growing team at eToro. The company is at a pivotal stage in its growth trajectory, especially as it relates to the U.S. market. I look forward to working closely with eToro’s investors to expand their knowledge and empower them on their investing journey. As a social investment network, eToro has a very unique, community-oriented offering and I’m excited to bring my experience to the table to help make investing more accessible to everyone.”

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eToro postpones going public despite successful operation

eToro has experienced astonishing growth over the years since being founded in 2007. The firm currently boasts over 23 million registered users and its US operation has successfully become one of the favorite destinations for self-directed traders.

The firm, however, has downgraded its IPO valuation to $8.8 billion from $10.4 billion due to changes in market conditions and headwinds faced by SPACs.

The deal deadline was extended from the earlier anticipated close on December 31, 2021 to June 30, 2022. Despite their ‘best efforts’, the parties haven’t satisfied the requisite closing conditions set forth in the original merger agreement, including eToro’s registration statement on Form F-4 to be effective.

That said, there are some financial changes in the newly restructured deal between the two parties. Calling it a “strategic revision of the transaction terms,” eToro is downgrading its pre-money valuation estimate from $9.301 billion to $7.906 billion. As such, the estimated implied post-money equity value of eToro is approximately $8.8 billion.

In addition, the number of price adjustment rights that correspond to the $17.50 price trigger issuable to eToro shareholders was reduced on a one-for-one basis for every warrant.

Going public through a blank-cheque company was originally scheduled for a Q3 closing at a massive $10.4 billion valuation. However, meeting investors to pitch a direct listing has hit a bump and the deadline was pushed back to the fourth quarter as the SPAC boom was already fading away.