$SK Growth Opp(SKGR.US)WeBull went public tonight, the share capital is out, roughly calculated, the market cap is $5.47 billion. Given the current market conditions, the valuation seems not low...
The financial data disclosed in the prospectus shows that WeBull Securities' total revenue in 2022 was $389 million and $390 million in 2023, with corresponding net profits of $50.078 million and $5.822 million, respectively. A comparison of the revenue data for the first nine months of 2023 and 2024 shows that WeBull Securities' total revenue dropped from $306 million to $283 million, with a net loss of $33.803 million in the first nine months of 2024.
Revenue declined in the first nine months of last year, and it's still losing money even in a bull market... Not a good sign... It's rare for a brokerage to lose money during a bull market...
Better wait for Longbridge to go public.