Mentioned:
One of the most popular commission free brokerage platforms in North America has officially gone public. And investors are pouring in.
What’s happening:
- Webull (NASDAQ: BULL) has officially completed their SPAC transaction with SK Growth Opportunities and began trading on the Nasdaq
Why it matters:
- Webull is one of the largest retail brokerage platforms in North America with more than 4M individual funded accounts
Going deeper:
- Multiple notable investors have been early backers of Webull prior to going public, including General Atlantic, Coatue Management and J. Rothschild Capital Management
- Webull has become widely popular in large part due to offering commission free trading and generates most of their revenue through margin trading fees, payment for order flow, short selling fees and securities lending
Market reaction:
- Shares of Webull surged more than +500% upon completing their SPAC transaction
