US stocks: Webull shares plunge 18% after report flags structural ties to China
Reliance Industries moved higher in an infrastructure development.
7 Oct 2026 · Economic Times Markets
Webull shares fell by more than 18% following a report connecting the platform to the Chinese government. The House Select Committee on China revealed discrepancies between Webull’s marketing and its operational reality. Concerns were raised about the company’s reliance on infrastructure subject to Chinese laws.
The analysis
Reliance Industries reported movement of 18%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.8% on the day at ₹1,207.70, and has returned -7.7% over three months. It sits 24% below its 52-week high. The oil & energy sector has moved +0.4% over the same period, so Reliance Industries is running 8.1 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy, Infrastructure.
- The immediate tone of coverage reads negative.
In this story
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