Webull and the ongoing dillution concern

This stock is a mess. Under a year of data since the ipo which sold off rapidly (typical for spacs). Dillution over 150 million shares in under a year and special agreements to purchase below market value, which doesnt instill a sense of confidence in stock price. but a contra to raise cash for the company, which, in my opinion, is the functional purpose of the stock market - to invest in companies! Also massively overleveraged, with calls and warrants galore. Certainly a first encounter, seeing this in real time. The company is already profitable per the most recent earning report with a lot of exciting news on the horizon. Looking foward to see how the inclusion of kashi prediction markets, such as hourly spx contracts, impacts the bottom line. But based on the activity im seeing there (with 500k+ volume daily) its certainly no nothing-burger. The ops cost at webull goes largely towards **global expansion** this is an app used in many countries already with a built in forum for every single ticker which are extremely active. Its really got a lot going on with the app but many of the tools are not proprietary and thus could be seen as a liability. Due to dillution and ongoing concerns about this - i expect this to be slow burner and not a "quick pop" like some other stocks in this category. Retail holdings are huge and 99% of cost basis is currently above the current market value - so really, almost no one is seeing a return for long term holding this as of yet - but its only been a year since ipo so.. hard to call any current holders "long term" as of yet.