From CNBC: 2025-04-14 16:44:00

Webull’s CEO Anthony Denier speaks on CNBC amidst the stock-trading app’s meteoric rise, with shares surging 375% following its merger with SPAC SK Growth Opportunities Corp. The company boasts a market cap of almost $30 billion, competing with Robinhood, Charles Schwab, and E-Trade, offering various tools for investors.

Founded in 2016 by Wang Anquan, Webull has gained popularity, attracting over 23 million users globally. The app offers trading in securities, ETFs, and cryptocurrencies, with a premium tier for real-time data at $40 per year. Amidst questions about ties to China, Webull plans for its market debut in the second half of 2024.

Blank-check companies like SK Growth Opportunities saw a peak in 2021 with 613 IPOs, but the market fell in 2022 due to inflation and rising rates. Webull, with investors like Coatue and Lightspeed, projects 2024 revenue of $390.2 million. The House Committee has raised concerns about the company’s connections to China.

Read more: Webull stock soars in second trading day after completing SPAC merger