Webull Corp (BULL) experienced a dramatic 15.15% plunge in a 24-hour period, following an extraordinary surge earlier in the day. The stock, which had more than tripled in value during regular trading hours on Monday, saw a significant correction as investors likely took profits and reassessed the company's valuation.

During Monday's intraday trading, Webull shares skyrocketed by an impressive 262.8% to reach $48.07. This remarkable gain came on just the second day of trading for the company, which made its Nasdaq debut last Friday after completing a merger with blank-check firm SK Growth Opportunities Corporation. The initial public offering (IPO) had seen the stock close at $13.25 on its first day, representing a 10.2% increase from its offering price.

Webull, founded in 2016 by Alibaba veteran Anquan Wang, operates a popular trading platform that allows users to invest in stocks, exchange-traded funds, and cryptocurrencies. The company has rapidly expanded its global presence since launching in the U.S. in 2018, now serving over 23 million users across 15 regions in Asia Pacific, Europe, and Latin America. While the strong initial investor interest in Webull's shares reflected the growing appetite for fintech and digital trading platforms, the subsequent plunge suggests that the market is now recalibrating its expectations for the newly public company.