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American Focus > Blog > Economy > Webull stock soars in second trading day after completing SPAC merger
Economy

Webull stock soars in second trading day after completing SPAC merger

Last updated: April 14, 2025 2:28 pm
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Webull stock soars in second trading day after completing SPAC merger
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Webull, a popular stock-trading app, experienced a massive surge in its stock price, jumping nearly 375% on Monday. The increase came just a day after the company completed its merger with SK Growth Opportunities Corp., a special-purpose acquisition company (SPAC). This rally propelled Webull’s market cap to almost $30 billion, firmly establishing it as a major player in the competitive landscape of stock-trading apps.

Webull competes with industry giants like Robinhood, Charles Schwab, and E-Trade, offering users the ability to buy and sell shares, options, ETFs, and cryptocurrencies. The app provides a range of tools such as charts, watchlists, screening tools, and paper trading to help investors make informed decisions. With over 23 million registered users across 15 regions globally, Webull has seen significant growth in recent years.

Founded in 2016 by former Alibaba and Xiaomi manager Wang Anquan, Webull has attracted investments from prominent firms like Coatue, General Atlantic, and Lightspeed. The app gained popularity during the Covid-19 pandemic, as many Americans used stimulus checks to invest in the stock market. According to Anthony Denier, the company’s group president and U.S. CEO, Webull users are known to be more intellectually inclined compared to those using other platforms like Robinhood.

In a recent investor presentation, Webull projected revenue of $390.2 million for 2024, indicating steady growth in the coming years. However, the company has faced scrutiny over its ties to China, with the U.S. House Select Committee on the Chinese Communist Party raising concerns in a letter to Denier. Webull has yet to address these allegations publicly.

The rise of SPACs, like SK Growth Opportunities, reached its peak in 2021 with 613 IPOs, but the market saw a decline in the following year due to economic uncertainties. Despite this, Webull’s successful market debut has positioned it as a key player in the industry. The company had initially planned to go public in the second half of 2024, but the merger with SK Growth Opportunities accelerated this timeline.

See also  Airbnb, Inc. (ABNB): A Bull Case Theory

Overall, Webull’s rapid growth and market success reflect the increasing interest in online trading platforms and the evolving landscape of the financial industry. Investors will be closely watching to see how the company navigates its future challenges and opportunities in the dynamic world of stock trading.

TAGGED:CompletingDayMergerSoarsSPACStockTradingWebull
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