# Webull Stock Drops After Congress Flags China Ties

> Congress report reveals Webull's deep China links, triggering 19.1% stock plunge.
- Title: Webull Stock Drops After Congress Flags China Ties | Shortify
- Summary: Congress report reveals Webull's deep China links, triggering 19.1% stock plunge. Webull stock fell 19.1% after a House committee report found 62% of its…
- Keywords: webull, house select committee, hunan weibu, congress, china ties, stock drop, webull stock, webull stock drop, webull stock sinks, congress report, stock plunge, stock price drop
- Source: Startup Fortune — https://startupfortune.com/webull-stock-sinks-after-congress-flags-its-deep-ties-to-china
- Published: 2026-10-14T04:00:51+00:00
- Read time: 1 min
- Topics: webull, house select committee, hunan weibu, congress, china ties, stock drop, webull stock, webull stock drop, webull stock sinks, congress report, stock plunge, stock price drop
## House committee report
A House committee says Webull markets itself as an American brokerage while routing much of its engineering through a mainland China subsidiary.
## Stock drops 19.1%
Investors who hold $28.5 billion in customer assets on the app just found out what that means for them.
## Report released October 7
On October 7, the House Select Committee on China released a report accusing Webull of hiding how much of the company actually runs out of China.
## Stock drops 19.1%
The stock dropped 19.1% in a single session, closing at $5.89.
## Subsidiary employs 863 people
The report centers on Hunan Weibu, a mainland China subsidiary the committee says employs 863 people.
## 62% of workforce in China
That subsidiary handles core technology development and platform operations, not just back-office support.
## Committee flags structural ties
The committee also flagged cross-border data routing, Webull's financing structure, and its compliance systems as 'tied in structural ways to the People's Republic of China'.
## Timing matters
The committee says its concerns 'escalated' after October 2025, when Webull began carrying customer cash directly rather than leaving those funds at Apex Clearing.
## Customer assets reach $28.5B
Customer assets reached $28.5 billion by the end of June, up 79% year over year.
## Webull stock rebounds
It has since rebounded to $6.31 as of October 13 but remains sharply lower than it was a month ago.
## Key takeaway

Webull stock fell 19.1% after a House committee report found 62% of its workforce in a mainland China subsidiary.