$SK Growth Opp(SKGR.US) WeBull is going public tonight, the capital has come out, and I roughly calculated that the market value is $5.47 billion. Given the current market conditions, the valuation seems not low...
The financial data disclosed in the prospectus shows that the total revenue of Webull Securities in 2022 was $389 million, and in 2023 it was $390 million, with corresponding net profits of $50.78 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 decreased from $306 million to $283 million, and the net profit for the first nine months of 2024 shows a loss of $33.803 million.
Last year's revenue also declined in the first nine months, revenue decreased even in a bull market, and there were losses, which are not good indicators... It is quite rare for a brokerage to incur losses in a bull market...
Let's wait for Longbridge to go public.
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