Webull (BULL, Financials) shares surged more than 300% on Monday, April 14, 2025, following the company’s public market debut through a special-purpose acquisition company (SPAC) merger with SK Growth Opportunities. The digital brokerage's stock opened for trading under the ticker symbol "BULL" on Nasdaq on Friday, April 11, 2025, and skyrocketed to $55.14 on Monday, a significant jump from its previous close of $13.25.
The transaction had been in the works since Webull began exploring public listing options during the 2021 IPO boom, which saw a flurry of SPAC activity. The merger was completed on Thursday, April 10, 2025, after Webull had previously paused its efforts due to a broader downturn in equity markets in 2022. The company signed the SPAC agreement in February 2024.
Founded in 2016 by Wang Anquan, Webull is based in St. Petersburg, Florida, and has rapidly grown its user base. As of the end of 2023, the company reported 4.3 million funded accounts and $8.2 billion in customer assets. By 2024, its global user base had reached approximately 20 million, positioning it as a significant player in the digital brokerage space.
Webull is often compared to other digital trading platforms catering to retail investors, such as Robinhood (HOOD, Financials) and eToro. The company’s recent listing comes at a time when SPAC deals have slowed considerably. In 2021, there were 613 SPAC transactions that accounted for 63% of total U.S. IPOs. However, SPAC activity has declined sharply, with only 31 such deals in 2023 and 23 completed so far in 2025, according to SPAC Analytics.
The remarkable rise of Webull shares is part of a broader trend that has seen renewed retail investor interest in momentum-driven stocks. Recently, shares of Newsmax also attracted attention after rising over 2,000% from its IPO price, reflecting a similar pattern of speculative trading among retail investors.
As Webull continues to navigate the public markets, it remains to be seen how the company will leverage its new status to expand its offerings and attract even more users. The digital brokerage space, while competitive, offers significant opportunities for growth, especially as more investors turn to online platforms for their trading needs.
In conclusion, Webull's public debut marks a significant milestone for the company and reflects the ongoing interest in SPAC mergers and digital trading platforms among retail investors. With a growing user base and substantial customer assets, Webull is poised to make a notable impact in the financial services industry.
