$Webull(BULL.US)
Context: Webull is being scrutinized by US regulators for it's link to Chinese government. Out of sudden, the US regulator raised the red flag claiming Webull is under the influence of Chinese Communist Party but they did not offered any evidence. Webull claimed that they are not even contacted to defend itself and this claim is unfair to them. Futu, another popular Chinese online which is also listed in Nasdap was fined US$271 million by Chinese regulators but this was totally a different matter, Futu was caught for allowing mainland China to trade overseas stock when they are not allowed to.
My trade: sell Webull. Webull shares fell 17% when this news was announced on Oct 7th.
Takeway: Webull and Futu are profitable fintech companies with creative financial service offerings but the claim by US regulators will drag its share price, stay away until a clearer picture emerges on their ties to CCP.$NVIDIA(NVDA.US)$Intel(INTC.US)$Netflix(NFLX.US)


