BULL vs HKD: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
BULL is the larger of the two ($3.75B market cap): the incumbent the market prices for continued execution (23.15x forward earnings, beta 0.55). HKD is the smaller challenger ($505.99M): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
BULL vs HKD: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | BULL | HKD | What it tells you |
|---|---|---|---|
| Market cap | $3.75B | $505.99M | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Beta | 0.55 | 2.00 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 20% of range | 8% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 3.68 | 1.90 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how BULL and HKD affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BULL and HKD share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BULL and HKD exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Webull Corporation (BULL) do?
Webull Corporation operates Webull, a mobile-first digital investment platform that lets retail investors trade stocks, ETFs, options, futures, fractional shares, and in some markets digital assets, with round-the-clock access to global markets. It serves more than 26 million registered users across roughly 14 markets in North America, Asia Pacific, Europe, and Latin America through a network of licensed brokerage entities. Its business earns money in two main ways: trading-related revenue, which in the United States leans heavily on payment for order flow (options are the larger share of those rebates), and interest-related income from margin loans, stock lending, and interest on client cash balances. In its first full year as a public company it reported record revenue of about $571 million (up 46%) and record net deposits of $8.6 billion (up 91%).
What does AMTD Digital (HKD) do?
AMTD Digital Inc. is a digital solutions platform that describes itself as a one-stop operator across four core lines: digital financial services (primarily insurance brokerage and related corporate services), SpiderNet ecosystem solutions (paid access to AMTD's network of corporate, financial, and institutional relationships for investor communication and dealmaking), digital media, content and marketing (which includes legacy fashion and lifestyle media titles), and digital investments. In 2026 the company added a distinct hotels segment, completing acquisitions that brought its portfolio to close to 1,000 rooms across major gateway cities on several continents under an AMTD Hotels Group brand. The company is headquartered in France and was spun out of the AMTD group of Hong Kong.
BULL vs HKD: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- BULL drivers: User and asset growth; Two revenue engines: trading and interest.
- HKD drivers: Diversification into hotels and real assets; SpiderNet ecosystem and digital services.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Webull's revenue is tied closely to retail trading activity, so a quieter market or lower volumes can hit trading-related revenue quickly. For HKD, the defining risk is that HKD trades more on float, control, and sentiment than on transparent fundamentals.
BULL or HKD: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BULL if you believe its drivers more; HKD if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BULL and HKD guides.
BULL vs HKD: the full fundamentals
BULL. Figures are approximate and tied to the asOf date; verify live numbers before acting. Because Webull is not consistently profitable on a GAAP basis, a traditional P/E ratio is not meaningful, so the market values it on revenue growth, users, and assets rather than earnings. The gap between a slightly positive adjusted EPS and a GAAP loss is worth understanding, since it reflects non-cash and SPAC-related charges as well as the underlying run rate.
HKD. Figures are approximate and qualitative and can change quickly; verify live numbers in the latest filings before acting. HKD is unusually hard to value because its reported profits can be swung by investment and non-operating items, its segments are diverse and opaque, and its small public float means the market price may not reflect a normal balance of buyers and sellers. Standard price-to-earnings or price-to-sales comparisons carry little signal here.
Headline figures (approximate, July 2026): BULL shows revenue (q1 2026 quarterly) ~$159.9 million, up 36% year over year, revenue (recent full year) ~$571 million, up 46%, registered users ~26 million+ across ~14 markets, customer assets ~$24 billion, up ~90% year over year; HKD shows listing NYSE-listed American Depositary Shares (each ADS represents a set number of underlying ordinary shares), revenue (trailing, approx) Roughly in the low hundreds of millions of dollars across digital services, media, and hotels; verify latest filings, reported profitability Has reported positive net income in some periods, but results are heavily influenced by investment and non-operating items, float and control AMTD parent group has controlled the large majority of shares; public float is small.
The bottom line: BULL vs HKD
BULL and HKD are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BULL and HKD exposure against your real portfolio. It is not an investment adviser.
Wondering how BULL or HKD fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Webull Corporation with AI
Connect the broker you already use and ask Walnut's AI how BULL fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between BULL and HKD?
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Webull Corporation operates Webull, a mobile-first digital investment platform that lets retail investors trade stocks, ETFs, options, futures, fractional shares, and in some markets digital assets, with round-the-clock access to global markets. AMTD Digital Inc. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is BULL or HKD the better stock?
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Neither is universally better. BULL is the larger incumbent; HKD is the smaller challenger. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, BULL or HKD?
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A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both BULL and HKD?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of BULL vs HKD?
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BULL: Webull's revenue is tied closely to retail trading activity, so a quieter market or lower volumes can hit trading-related revenue quickly. A large portion of its US revenue comes from payment for order flow, a practice that regulators have periodically scrutinized and could restrict, which would pressure a core income line. Its ties to China have drawn a US congressional committee letter over PRC links and data privacy, an unresolved political and regulatory overhang. The stock is a recent SPAC listing and has been highly volatile, and the company still reports GAAP losses. Competition from far larger and better-capitalized brokers, plus other low-cost trading apps, can raise customer-acquisition costs and compress margins. HKD: The defining risk is that HKD trades more on float, control, and sentiment than on transparent fundamentals. The AMTD parent owns most of the equity, so public holders have limited influence and are exposed to whatever the controlling group decides on issuance, related-party dealings, and strategy. The operating segments are diverse and relatively opaque, which makes conventional valuation difficult and leaves reported profits hard to independently verify. The stock has already fallen enormously from its 2022 highs, showing how violently it can move. Legal proceedings tied to its media assets, cross-border regulatory exposure across Hong Kong, France, and the US, and the ADS structure itself all add layers of uncertainty. This is a speculative, hard-to-value situation, not a stable operating investment.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell BULL or HKD; figures are approximate and dated (as of August 2026). Verify current data before investing.