Michael Grondahl, an analyst from Northland Securities, maintained the Buy rating on Webull Corporation. The associated price target remains the same with $18.00.
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Michael Grondahl has given his Buy rating due to a combination of factors that highlight Webull Corporation’s strong growth potential and strategic market positioning. The company’s management team provided a comprehensive overview of Webull’s evolution into a robust retail trading platform, boasting 4.7 million funded users and 25 million registered users. The recent reintroduction of cryptocurrency trading is expected to narrow the gap between these user groups, as it extends Webull’s reach beyond the 14 markets where it is currently registered as a Broker Dealer.
Furthermore, Webull’s expansion into the Netherlands, a market with stringent regulatory standards, positions the company well for further European growth. The company’s focus on exporting the US trading experience globally, characterized by zero commission trading and no platform fees, is anticipated to drive additional expansion. Additionally, Webull’s foray into the institutional market, with its first client already onboarded, is expected to capture significant market share in the coming years, further solidifying its competitive edge.