Webull 500% increase, could this be a driver for broker stock in general?

The deep research logic is organized as follows: 

Okay, let's tackle this question about whether Webull's 500% stock increase could drive broker stocks in general. First, I need to understand the context. Webull went public via a SPAC merger, which is a special purpose acquisition company. SPACs have been a popular way for companies to go public, especially during the 2021 boom, but activity has declined since then. Webull's surge is part of a meme-stock trend, similar to Newsmax's 2,000% increase post-IPO.

The user is interested in the US Tech sector, particularly AI, SaaS, etc., and has a moderate risk tolerance with a medium to long-term horizon. They're news-driven, so the timing of Webull's surge and its potential impact on other broker stocks is relevant.

Looking at the references, Webull's stock spiked due to the SPAC merger, retail investor interest, and positive market sentiment. However, there's also a mention of a significant drop after the initial surge, which is common in meme stocks. The partnership with GTN to offer fixed income investments in APAC could diversify Webull's offerings, but the immediate impact might be more on retail trading sentiment.

Now, considering other broker stocks like Robinhood (HOOD) and eToro (ETRO), the historical performance from reference 25 shows HOOD had an 8.73% increase in Q1 2025, while BULL's data isn't available. The SPAC merger's success factors (reference 11, 12, 14) suggest that larger deals and operator-led SPACs perform better. Webull's deal size and founder's background (reference 7) might contribute to its success, but the broader sector impact isn't clear.

Institutional investors' reactions (reference 29) indicate a defensive stance, which might limit their participation in retail-driven surges. However, the user's interest in tech and SaaS could mean that if Webull's model (commission-free trading, app-based) resonates, other brokers might see increased scrutiny or competition.

The 500% increase could act as a catalyst by drawing attention to the retail trading sector, potentially benefiting competitors if investors seek diversification. However, the volatility and SPAC-specific risks (reference 12, 14) might deter institutional investors, who prefer stability. Retail investors, on the other hand, might flock to other brokers, especially those with similar features or lower fees.

Also, the partnership with GTN (reference 2) shows Webull expanding into fixed income, which could be a differentiator. If other brokers follow suit, it might drive innovation in the