Webull shares surge 10.89% as brokerage rally lifts BULL stock

  • Webull shares climbed as online retail brokerages and crypto-linked stocks rallied Thursday.
  • Webull reported $198.83 million in second-quarter revenue, beating the $181.26 million estimate.
  • Shares traded at $9.98, up 10.89%, at publication, according to Benzinga Pro data.

Webull Corp. shares rose 10.89% to $9.98 Thursday as a broader rally in online retail brokerages coincided with gains in crypto-linked stocks. Bitcoin reached $80,000 amid lower yields and a weaker dollar, while Federal Reserve Governor Christopher Waller’s support for holding interest rates steady may have improved risk appetite, according to Benzinga Pro. Morgan Stanley’s upgrade of Robinhood Markets to Overweight, with a $150 price forecast and prediction markets identified as a growth driver, also helped lift the sector. Webull’s Aug. 19 second-quarter report showed revenue of $198.83 million, above the $181.26 million estimate, and adjusted earnings of 5 cents per stock, ahead of the 3-cent estimate. The stock traded well above its 20-day, 50-day and 200-day simple moving averages, indicating strong momentum but increased pullback risk. Its broader technical structure improved after an August golden cross, although shares remained below their 52-week high of $16.04.

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