Peter Thiel-backed company stock surges despite $280 million loss

Despite the loss, investors sent Bullish shares sharply higher aft the marketplace opened connected Thursday. The banal was up 11.7% astatine $27.50 astatine the clip of writing, reversing an earlier premarket decline.

The rally came arsenic different parts of the results showed growth. 

Adjusted gross roseate 62% twelvemonth implicit twelvemonth to $92.6 million, adjacent arsenic integer plus income fell 44% to $32.6 cardinal amid weaker trading activity.

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Chief fiscal serviceman Dave Bonanno pointed to Bullish's expanding businesses beyond trading.

"That is our cross-sell motor astatine work, clients get done CoinDesk and Consensus and grow crossed data, indices, liquidity, and the exchange," Bonanno said.

Wall Street saw upside earlier net

Wall Street had been broadly optimistic astir Bullish heading into its Aug. 13 results. Analysts expected adjusted net of astir $0.09 per stock and gross of astir $87.9 million, meaning Bullish's adjusted gross yet came successful supra expectations.

• Citi expert Peter Christiansen reiterated a "Buy" standing connected July 28 portion cutting his terms people to $50 from $65. 

• Clear Street expert Owen Lau initiated sum with a "Buy" standing and $40 people connected July 24 

• Deutsche Bank expert Brian Bedell had maintained a "Buy" standing with a $61 target.

• JPMorgan was much cautious. Analyst Kenneth Worthington maintained a "Neutral" standing successful June and chopped his terms people to $26 from $43.

Bullish went nationalist connected Aug. 13, 2025, raising astir $1.1 cardinal aft selling 30 cardinal shares astatine $37 each. The offering valued the institution astatine astir $5.4 billion.

At the clip of writing, Bullish shares were trading up 11.7% connected the day, but remained astir 26% beneath their $37 IPO price.

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This communicative was primitively published by TheStreet connected Aug 13, 2026, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.