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Investing.com -- Webull Corp. (NASDAQ:WBUL) stock declined 6.3% Wednesday following a significant block trade of 3 million Class A shares that took place in early market hours.
The block, representing approximately 1.3% of Webull’s float, traded at $12.50 per share, a 2.3% discount from Tuesday’s closing price, as reported by Bloomberg. The transaction had a total market value of $37.5 million and occurred at 8 a.m. New York time.
This latest block trade follows a challenging Tuesday session when Webull shares already fell 6.6%. The 3 million share block represents 16% of the company’s 20-day average trading volume, indicating an unusually large transaction.
Market observers noted this is the third significant block trade for Webull in the past two weeks. During this period, three blocks totaling 3.1 million shares have traded at a combined market value of $43.8 million.
The consecutive days of selling pressure have intensified concerns about institutional positioning in the stock, contributing to the continued downward movement in Webull shares.
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