United States · Business news · Policy & Regulation · 07 Oct 2026
US Financials
Shares of retail brokerage Webull dropped 19% to $5.89 on October 7, their worst day since April 2025, after the bipartisan House Select Committee on China published an assessment calling the company a national security risk. The report says Webull's ownership structure, technical workforce, technology infrastructure, data routing, financing and compliance are tied in structural ways to China, and describes a gap between how the company presents itself in the US and who controls it. Webull said the report contains significant inaccuracies and unsupported conclusions.
Webull is based in St. Petersburg, Florida, has 28.2 million users, about 85% of them in the United States, and listed on Nasdaq through a SPAC merger in 2025. The committee's concern is customer data: what could be handed over if a China-based part of the business were ordered to cooperate with the authorities there. A congressional report does not by itself restrict the business; any limit would have to come from regulators or legislation. The stock is down about 40% in a month. The episode is a reminder for other US-listed financial apps with engineering or ownership links to China that those links are under scrutiny.
Reported by Yahoo Finance — “Webull stock suffers worst day in a year after lawmakers flag ties to China” ↗ on 07 Oct 2026.
Official series on 07 Oct 2026 or the last day before it, and the latest observation.
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