Webull Stock Drops 11% After Insider Sales by CFO's Spouse and President
On Wednesday, September 16, Webull Corporation (BULL) stock fell nearly 11%, closing near $8. This decline followed a pre-disclosed insider sale of 55,000 shares by the spouse of Chief Financial Officer Wang Haichen on September 14 at an average price of $8.98 per share, valued around $494,000. This was not an isolated event; just eight days earlier, President Anthony Denier sold approximately 53,846 shares for about $515,743 when the stock traded near its recent high of nearly $10. These sales occurred amid a broader market correction after BULL had reached highs above $9.90 in early September. Despite strong Q2 financial results—Webull reported a profit of $24.34 million and revenue growth to $198.83 million—the stock continued downward, reflecting investor concerns over the insider selling pattern rather than changes in company fundamentals.
Tickers: $BULL