Webull shares sink after US House panel reportedly flags China ties

The bipartisan House Select Committee on China said Webull’s public marketing had a “profound gap” with its actual control, and that software development, data pipelines and core engineering operations depended on infrastructure subject to Beijing’s laws.

The stock hit its lowest level in nearly four months and was on course for its biggest one-day percentage decline since April last year, if losses held. Siebert Financial analyst Brian Vieten suspended his buy rating and price target, saying the potential regulatory and operational implications created uncertainty he could not reasonably incorporate into estimates.