Today is March 19th, 2026— and I’m officially long Webull ($BULL)
My cost basis is $5.10.
A few minutes ago, I shared this on Twitter. If you haven’t seen it yet, it’s worth a look.
I care deeply about how financially sound a business is.
That perspective didn’t come naturally. Early on, I wasn’t financially sound myself. I didn’t have the capital to invest in my education, to live comfortably, or to make decisions without the pressure of needing immediate income. And for a long time, that held me back.
Eventually, I learned the hard way: when you’re not financially stable, it bleeds into every decision you make.
The same is true for companies.
If a business is loaded with debt, that’s a red flag. If it has little to no cash, it has very few options when things get tough. No flexibility and no margin for error.
And when you’re financially strained, it becomes a negative flywheel.
The company has $2.19 billion in cash and cash equivalents. Against a market cap of $2.65 billion, that puts its enterprise value at just $624.86 million.
In other words, the market is assigning very little value to the actual business.
That’s where it gets interesting.
Because alongside that balance sheet, $BULL has 26 million registered users and over 5 million funded accounts.
Distribution like that is incredibly hard to replicate. When you have that many users already inside your ecosystem, it’s difficult to fail outright.
There are also real tailwinds here.
Schwab has been shutting down many hyper-scalper accounts, leaving a segment of active traders looking for a new home. At the same time, I think there’s growing fatigue around platforms like Robinhood—where it’s become almost too easy to trade, and in many cases, too easy to lose money.
Meanwhile, since its second day of trading, $BULL is down 91%, while $HOOD is up 65% over the same period.
That divergence is massive.
When you find a company that’s been beaten down this badly—but still has a strong balance sheet—you open the door to asymmetric outcomes.
A few possibilities:
The company becomes an acquisition target. With an enterprise value this low relative to its cash, a buyer could effectively acquire the business at a steep discount. A player like $HOOD isn’t out of the question—either for the balance sheet or the user base.
The user base itself becomes the asset. 26 million people interested in markets is incredibly valuable distribution.
The company has time. Cash buys runway—and runway buys optionality.
Management has flexibility. They can buy back stock, issue a dividend, reinvest in the business, hire stronger talent, or explore new initiatives without needing to raise capital.
All of this is to say: I’m long $BULL at $5.10.
If the stock continues lower, I’ll likely become more interested—not less.
This is not a trade I’m looking to flip. It’s something I’m comfortable holding for years which is also why I bought it in my Roth.
And from here, I think the risk/reward is tilted in our favor.
(This is not financial advice)
PS: I found this unique opportunity on my favorite screener to find “cheap stocks”.
You can replicate it below at Stock Analysis which also comes with a 60-day money back guarantee.
PPS: If you have trouble replicating it, reply in the Overnight Momo discord letting me know and I’ll send the exact settings!