Webull Shares Slide 18.96% After House China-Ties Warning

Webull shares fell 18.96% Wednesday after a bipartisan House panel warned that the brokerage’s China-linked operations could pose risks to U.S. customer data and financial-market security.

Webull (BULL) closed at $5.90, after trading between $5.51 and $6.02. About 57.2 million shares changed hands during the session.

The House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party raised concerns about Webull’s ownership structure, China-based workforce, technology infrastructure, cross-border data routing and compliance systems. The committee said China’s laws requiring companies to cooperate with state intelligence activities create risks for Americans’ personal and financial information.

Webull disputed the assessment. Its latest annual filing says U.S. customer personally identifiable information is stored on U.S. servers and cannot be accessed by employees outside the United States without permission and oversight from U.S. personnel.

The filing also shows that Webull’s mainland-China subsidiary employed 863 people, or 62% of the company’s workforce, as of Dec. 31, 2025. Webull reported 26.8 million registered users and 5.0 million funded accounts at year-end.

The committee’s concerns follow earlier questions about Webull’s ownership and technology relationships. No new U.S. restriction or enforcement action was announced alongside Wednesday’s warning.