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

Webull stock dropped as much as 29% on Wednesday after a U.S. House committee reported that the online brokerage has deep structural ties to China that create national security risks.

Shares of Webull Corporation (NASDAQ:BULL) fell to $5.15 in morning trading. The sharp decline followed the release of findings by the House Select Committee on China, which alleged that Webull's operations, software, and data pipelines depend on infrastructure subject to Beijing's authority.