$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.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
