The House Select Committee on China issued a report alleging significant discrepancies between Webull’s marketing and its underlying control mechanisms. Investigators pointed to the company’s technical workforce and financing as evidence of deep-seated structural reliance on China. Following the news, Webull shares fell to $5.86, deepening a 25% decline for the year.
In section Market Quotes
Webull Shares Plummet Amid Congressional Probe into China Ties
A 20% slide in Webull’s stock price hit the trading floor Wednesday after a bipartisan House committee flagged the investment platform as a potential national security risk. Lawmakers contend the firm’s operational structure and financial backing remain tethered to Chinese interests despite its public image as an American entity.
Webull representatives categorically rejected the findings, labeling the committee's report inaccurate. The company maintains that its U.S. operations are headquartered in St. Petersburg, Florida, with data storage managed domestically under strict American oversight. A spokesperson noted the firm had been largely ignored by the committee for 20 months prior to the report's sudden release, yet expressed continued readiness to engage with regulators to address these security concerns.
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