Online trading platform Webull soars 375% in second day on market after SPAC merger

Anthony Denier, CEO fo Webull, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. Shares of Webull soared nearly 375% on Monday, the second day on the market for the stock-trading app, which completed its merger last week with SK Growth Opportunities Corp., a special-purpose acquisition company (SPAC). The rally gives Webull a market cap of almost $30 billion. Webull competes with Robinhood , Charles Schwab and E-Trade. The app lets investors buy and sell shares and options in individual securities, exchange-traded funds and cryptocurrencies, and offers charts, watchlists, screening tools and paper trading. The company says it has over 23 million registered users and operates in 15 regions globally. In addition to charging fees on trades, Webull has a premium tier with real-time data that costs $40 per year. In an investor presentation last month, the company said it was expecting $390.2 million in 2024 reven ... Read full article.