Webull entered the public markets this week, sendingits stock price soaring nearly 372% just a day after its Nasdaq debut. The stock-trading app's explosive rise follows itsmerger with SK Growth Opportunities Corp., a special-purpose acquisitioncompany, pushing Webull’s valuation to almost $30 billion in record time.

Stock Price Drops Over 76%

However, the price has since declined from its peak.According to TradingView data, BULL is changing hands for $35, a decline of 76%from its peak, TradingView data shows. With its shares now listed under the ticker “BULL,”Webull's market entry signals both investor appetite for digital brokerageplatforms and renewed interest in select SPAC deals, even as the broader SPACtrend has cooled.

Webull first gained traction in the U.S. in 2020 whenretail investors, many flush with stimulus checks, turned to the app forcommission-free trading. It now operates in 15 regions globally, claiming over23 million registered users and more than 50 million app downloads.

The company offers trading in stocks, ETFs, options,and cryptocurrencies, along with charting tools, watchlists, and a premium tierthat costs $40 annually.

Founded by former Alibaba and Xiaomi executive WangAnquan, Webull now sits alongside Robinhood, Charles Schwab, and E-Trade in theincreasingly crowded retail trading space.

Questions Around Global Operations

Webull’s path to Nasdaq came through its combinationwith SK Growth Opportunities Corp., whose shareholders approved the deal onMarch 30. As part of the transaction, SK Growth became a wholly ownedsubsidiary, and its securities were converted into Webull shares and warrants.Trading under the symbols “BULL,” “BULLW,” and “BULLZ,” Webull marked itsmarket debut by ringing the opening bell at Nasdaq on April 11.

Webull is officially a publicly traded company on @Nasdaq! Thank you to all our users for being a part of our financial journey. Watch us ring the opening bell today! This is just the beginning. $BULL #NasdaqListed #Nasdaq #BULL #WebullWebull Financial LLC, Member SIPC,… pic.twitter.com/co6c8idQJr

— Webull (@WebullGlobal) April 16, 2025

Despite the market enthusiasm, Webull faces scrutinyover its international ties. In November, the U.S. House Select Committee onthe Chinese Communist Party contacted Denier regarding the company’spotential links to China, CNBC reported.

Still, with a multibillion-dollar valuation and freshvisibility, Webull appears well-positioned for the next chapter. As tradingapps continue to reshape how individual investors engage with markets, Webull'smeteoric rise could signal a broader shift in how fintech companies approachpublic listings in a post-SPAC-boom world.

This article was written by Jared Kirui at www.financemagnates.com.