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Bullish Stock (BLSH) Slips Despite Record Q3 Earnings

Bullish Stock (BLSH) Slips Despite Record Q3 Earnings

Author:

Global Cryptocurrency

Published:

2025-11-19 19:29:01

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BTCCSquare news:

Bullish (BLSH) posted its strongest quarter as a public company, with revenue jumping 72% year-over-year to $76.5 million and net income reversing to $18.5 million from a $67.3 million loss. Institutional activity surged across its spot market and options desk, which crossed $1 billion in volume. Yet, the stock fell 6% in early trading and remains down nearly 40% this month.

The disconnect between fundamentals and market sentiment is stark for a company that once soared 200% on debut. Adjusted EBITDA climbed to $28.6 million, but transaction revenue dipped to $26.7 million, reflecting softer trading activity.

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