Webull Corporation experienced a remarkable 375% increase in its stock price after completing a merger with a special purpose acquisition company (SPAC), reaching $62.90 in its second trading day. Founded in 2016 and gaining traction during the COVID-19 pandemic, Webull offers an online trading platform with over 50 million downloads and 23.3 million registered users. Despite the successful debut, the stock faced a premarket decline of approximately 15%. The company primarily targets working professionals in their 30s who have prior investing experience and competes with platforms like Robinhood and E-trade.
Webull Corporation's shares surged nearly 375% after merging with a SPAC, indicating significant public interest, but premarket trading shows a decline of about 15%.
Founded in 2016, Webull's growth accelerated during the pandemic, with the app downloaded over 50 million times and having 23.3 million users globally.
Unlike a traditional IPO, Webull went public via a SPAC merger, highlighting an alternative approach for companies seeking public capital.
Webull's user base predominantly consists of working professionals in their 30s with prior investment experience, indicating a specific demographic targeting within the online trading space.
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