Webull’s 29% stock plunge follows a deeper question: how much of its U.S. brokerage depends on China-linked people, technology and infrastructure

What sent Webull stock down? Webull stock fell as much as 29% after a House report said the brokerage’s China connections pose a national security risk. The panel pointed to 863 China-based employees. That was 62% of Webull’s global workforce at the end of 2025. The report also highlighted China-linked technology and data systems, along with $24.6 billion in customer assets.