Webull Shares Jump 375% in Second Session After SPAC Merger (1)

Webull Corp. shares more than quadrupled on Monday after the online brokerage went public last week by merging with a blank-check vehicle.

The shares closed at $62.90, a 375% increase from the closing price in its first day as a public company. Webull began trading Friday after merging with SK Growth Opportunities Corp., a special-purpose acquisition company. A subsidiary of Korean conglomerate SK Inc. was the anchor investor in the SPAC’s sponsor.

Webull started in 2016 in China as a free market information service, and began operating in the US two years later as a platform for trading ...