Webull Corp (NASDAQ:BULL) shares are sliding again Thursday after a congressional report labeled the brokerage’s China ties a national security risk.
- Webull stock is trading near recent lows. What’s the outlook for BULL shares?
House Committee Says Webull’s Structure Ties it to China
CNBC reported Wednesday that the House Select Committee on China issued a report on Webull. Investigators found a sharp mismatch between Webull’s pitch as an American company and the parties that actually control the St. Petersburg, Florida-based firm. Ownership, technical staff, technology infrastructure, cross-border data routing, financing and compliance systems all connect to the People’s Republic of China, the committee said.
The committee added that Webull’s software development, data pipelines and core engineering run on infrastructure that Beijing’s laws govern. Those laws let the government require companies to turn over data and cooperate with authorities.
Concerns intensified in October 2025, when Webull started holding customer cash itself. The panel alleges that move created a “structural exposure of billions of dollars in American capital.” The report says Webull, a holding company incorporated in the Cayman Islands, holds $24.6 billion in customer assets.
The committee also accuses Webull of understating its workforce in China. It said Webull first told the panel it had no offices or employees there. The report counts 863 employees at Webull’s mainland subsidiary, Hunan Weibu. That equals 62% of the company’s global headcount.
Webull Stock Shows Trend Damage Below Key Moving Averages
The chart adds to the pressure. Webull trades far under its major moving averages. It sits about 22.6% below its 20-day simple moving average (SMA) of $7.55 and about 27.6% below its 50-day SMA of $8.07. The stock also trails its 200-day SMA of $7.03 by about 16.9%. Those gaps leave rallies exposed to selling.
Momentum tells a similar story. The relative strength index (RSI) reads 26.64, an oversold level. RSI gauges how stretched a recent move has become. A reading this low often means selling has grown crowded, so a bounce attempt can follow. Traders at these levels often watch for stabilization instead of chasing the downside.
BULL Shares Are Falling
BULL Price Action: Webull shares were down 1.36% at $5.805 at the time of publication on Thursday, according to Benzinga Pro.
Image: PJ McDonnell/Shutterstock
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