Shares of the trading app eToro Group soared more than 40% on Wednesday after pricing at a higher-than-expected $52. eToro’s impressive debut, which many market watchers viewed as a critical test in a fragile IPO climate,

EToro Group Ltd. shares rose as much as 42% in its first session as a public company, after the trading and investment platform and some of its backers raised nearly $620 million in an upsized IPO.

If the stock market rally continues, other quality companies that had put their IPO plans on hold are likely to follow,” one expert said.