Webull Corp (NASDAQ:BULL) shares closed Wednesday down more than 11% following a social media post suggesting that lawmakers are pushing for an investigation and potential delisting.
What To Know: Fox Business senior correspondent Charles Gasparino said in an X post Wednesday afternoon that lawmakers are ramping up pressure on the U.S. Securities and Exchange Commission to “investigate and possibly delist” Chinese discount brokerage firm Webull.
“Webull’s deep ties to China have potentially severe national security implications and must be investigated by the SEC,” Sen. Tommy Tuberville (R-Ala.) reportedly said, according to Gasparino’s social media post.
The post indicates lawmakers are “aggressively” calling on the SEC to investigate the company.
Webull was founded in 2016 by former Alibaba and Xiaomi manager Wang Anquan, according to CNBC. Anquan reportedly remains the company’s …Full story available on Benzinga.com
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