Klarna's Stock Market Debut Attracts Swedish Small Investors

Klarna was listed on the New York stock exchange on Wednesday. According to the online banks Avanza and Nordnet, there was a great interest among Swedish small investors for the share on the first trading day. Klarna became the most net bought share on Nordnet's entire platform yesterday, says Frida Bratt, savings economist at Nordnet.

» Published: Thu 11 Sept 2025 11:05 CEST

In total, it was about 2,000 trades, spread across Nordnet's customers in the whole of the Nordic region.

If you put it into perspective, trading started fairly late, but still Klarna managed to beat other stocks that were traded throughout the day, says Bratt.

When Spotify was listed in 2018, the stock was the third most bought at Nordnet.

At Avanza, Klarna's stock was also the "overwhelmingly" most net bought stock yesterday, according to the bank's savings economist Philip Scholtzé.

A very large part of all orders placed in American stocks yesterday were in Klarna, he says.

Same as Oatly

In total, more than 7,400 customers traded the stock at Avanza, meaning they now have the stock in their deposit account. The median purchase was 3,500 kronor.

It's a lot more than second-place Novo Nordisk, which had 2,800 trades, says Scholtzé.

For comparison, Spotify has over 12,500 owners at Avanza. Oat milk company Oatly, which was listed in New York in 2021, has 7,400 owners.

Spotify has been traded since 2018 and is also a Swedish company listed in the USA. So 7,400 on a trading day is a very strong start for Klarna.

Then we'll see how it develops. The trade was very volatile yesterday, he says.

No stress

The stock rose 30 percent initially, before falling back somewhat. According to Philip Scholtzé, it may take some time before the market finds the right price for a newly listed stock. He therefore does not think that those who want to invest in Klarna need to rush.

The price of Spotify, for example, fell a few months after the listing.

They were listed in April 2018, before Christmas the stock was down 28 percent on a weekly basis. So it wasn't a great start, but since then it's gone fantastically well and now the stock is up 370 percent since the start, says Scholtzé.