- ORIGINAL NEWS
Online trading platform Webull is set to go public via a $7.3 billion SPAC deal
- SUMMARY
Webull, a digital investing platform, is merging with a special purpose acquisition company (SPAC) to go public.
SPACs raise money through an IPO and merge with private companies to take them public.
Webull’s deal values the company at $7.3 billion.
Once approved, the combined company will trade on Nasdaq as “Webull.”
Webull launched in the US in 2018 and saw a surge in users during the pandemic as people began trading stocks.
The company’s clients are typically more experienced investors who use analytical tools to make trading decisions.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“After suffering a drought over the past two years, the space is showing signs of a revival as the bull market powers on and interest rates start to stabilize.”
“Webull launched its trading platform in the U.S. in 2018 and enjoyed a huge boost during the Covid-19 pandemic as many Americans became first-time traders during lockdowns.”
Negative