Webull’s IPO Year Was A Roller Coaster — But Revenues Climbed And Global Expansion Accelerated

• Webull went public via a SPAC merger with SK Growth Opportunities Corp in April and saw a massive 375% gain on its second day of trading.
• The company is part of expanding retail investor choice by introducing new account types and enabling trading in UK-listed equities and ETFs.
• This year, the company also launched corporate bond trading for U.S. customers, allowing investors to buy and sell individual corporate bonds directly on Webull’s platforms.

One of the IPOs that turned a lot of heads this year was Webull Corp, a digital investment platform, and its first year as a publicly listed company has unfolded much like the markets it follows, currently volatile and fueled by retail momentum.

The company went public through a SPAC merger in April and has since seen the macroeconomic environment's uncertainty impact its shares, showcasing both opportunities and challenges that retail-focused trading platforms face.

The April IPO

Webull went public via a SPAC merger with SK Growth Opportunities Corp in April and saw a massive 375% gain on its second day of trading, giving much-needed investor optimism as it competes with established players such as Robinhood and Charles Schwab.

But the stock has not been able to maintain the initial surge and is trading at $7.90, compared to the closing high of $62.90 it hit on April 14, the second day of trading.

The company was launched in the United States in 2018 and has since expanded to 13 additional markets across Asia Pacific, Europe and Latin America. Webull’s app has reportedly been downloaded more than 50 million times and has over 25 million registered users globally.

Webull’s Offerings And Expansions This Year

One of the most notable expansions Webull made this year was giving retail investors greater choice, flexibility and cost-effective access to markets through new account types and the ability to trade UK-listed equities and ETFs.

In its latest partnership announcement, CQG is providing professional-grade trading infrastructure and order routing access globally to support Webull Singapore's futures offering. 

Webull has also partnered with Meritz Financial Group, one of South Korea's financial institutions, and both companies will offer South Korean investors access to the U.S. equity markets and Webull's suite of trading and investment tools. 

The company is also known for providing data and insights on trading to investors and, in November, introduced Vega, an AI-powered tool that delivers real-time, personalized insights and analysis, helping investors better navigate the complexities of modern trading.

In the third quarter, total revenue was $156.9 million, with trading-related revenue increasing 64% year-over-year.

Launch Of Corporate Bond Trading

This year, the company also launched corporate bond trading for U.S. customers, allowing investors to buy and sell individual corporate bonds directly on Webull’s desktop and mobile platforms.

The expansion builds on Webull’s previous rollout of U.S. government bonds, marking a key milestone in the company’s fixed income strategy and is built on Webull’s efforts to maintain one of the most competitive pricing models in the industry.

In the third quarter, the company’s total operating expenses for new launches and expansions increased 18% year-over-year, primarily driven by higher brokerage and transaction costs, reflecting rapid growth in trading volumes and product expansion.

Crypto Futures Expansion

In late October, Webull announced the expansion of its crypto futures offering through an ongoing partnership with Coinbase Derivatives. Webull users in the U.S. will now be able to trade futures contracts for Dogecoin (DOGE), Nano XRP, Nano Solana, Litecoin (LTC), XRP (XRP) and Solana (SOL).

What Is Retail Thinking?

Retail sentiment on Webull dipped to ‘bearish’ from ‘extremely bullish’ compared to a month ago, with message volumes at ‘high’ levels, according to data from Stocktwits.

Webull has witnessed a whopping 83,200% increase in followers on Stocktwits, with the retail user message count on the stock jumping 6,450%.

Shares of Webull have declined more than 46% in the last three months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Brian Armstrong Warns Stablecoin Interest Ban Could Hand Advantage To China’s CBDC

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