Bullish (BLSH) Stock: Why Strong Earnings Failed to Impress Investors

TLDR Bullish stock dropped 3.5% to 6% after announcing record Q3 2025 earnings with $76.5 million in adjusted revenue, up 72% year-over-year. Net income reached $18.5 million compared to a $67.3 million loss in Q3 2024, while adjusted EBITDA rose to $28.6 million. Shares trade around $35-$36, below the $37 IPO price and down nearly [...]

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