Why SPAC Stock FinTech Acquisition Corp. V Skyrocketed Today

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Shares of FinTech Acquisition Corp. V (NASDAQ: FTCV) soared 43% on Tuesday after the special purpose acquisition company (SPAC) announced its plans to merge with Robinhood rival eToro.

eToro bills itself as “the world’s leading social trading platform.” It allows more than 20 million registered users across over 100 countries to share their investment strategies, and follow the buy and sell transactions of other top-performing traders.

eToro operates in the U.S. and several international markets. It enables its users to trade stocks, exchange traded funds (ETFs), commodities, currencies, and crypto assets. eToro says these features make it a truly global multi-asset trading platform.

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