Webull Stock After the House China Report: Bull and Bear…
By Tobi Opeyemi Amure
AI summary of the source article
Shares of retail broker Webull fell 19 percent after the House Select Committee on China issued a report alleging significant structural links to the PRC, spanning technology infrastructure, cross-border data routing, and workforce distribution. The report raised concerns regarding customer cash custody and noted that mainland subsidiary Hunan Weibu Information Technology employed 62 percent of group staff in late 2025. Webull disputed the findings, calling them inaccurate and stating that its US broker-dealer operates out of Florida and New York while storing US customer data domestically. With 90 percent of its revenue derived from US customers, the company faces scrutiny over potential future regulatory action.
Why it matters
The congressional inquiry targets Webull's operational architecture and data governance, presenting substantial regulatory and customer-retention risks for a broker that relies on the US market for 90 percent of its revenue.
Key facts
- Webull's stock fell 19.09% on 7 October to $5.89 after the House Select Committee on China published its report.
- Webull's mainland subsidiary, Hunan Weibu Information Technology, employed 863 people or 62% of the group's workforce as of 31 December 2025.
- Webull generated $516.5 million, or approximately 90% of its $571 million in 2025 revenue, from US customers.