Bullish is a hypergrowth platform with 69% revenue growth and 48.6% upside to the analyst target after a 66% drawdown, but it burns cash at -136% of revenue, is in a confirmed downtrend and faces moderate insider selling.
Thesis pillars
- Hypergrowth Industry Leader→Stable
- Severe Cash Burn→Stable
- Deep Drawdown Oversold Bounce→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026
Bullish (BLSH) Stock Analysis
Technology · Software - Infrastructure
Sell if holding. Engine safety override at $22.96: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.6/10 and A.R:R 3.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 14%; Below-average business quality; Negative price momentum.
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated... Read more
Sell if holding. Engine safety override at $22.96: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.6/10 and A.R:R 3.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 14%; Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.6/10, moderate confidence.
Passes 5/8 gates (favorable risk/reward ratio, no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: speculative.
Recent developments
updated Nov 3, 2026Recent Developments — Bullish
Latest news
- NEWS RIOT, COIN, MSTR Jump up to 16%: What Is Going On With Crypto Stocks? — benzinga Nov 3, 2026 neutral
- NEWS ARK Invest Trims Stake in Bullish — fiscal.ai Nov 3, 2026
- NEWS Cathie Wood Sells $2.3M Of Peter Thiel-Backed Bullish Stock, Ark Adds Crypto Names Coinbase, Circle, Robinhood — benzinga Nov 3, 2026 neutral
- NEWS Cathie Wood Sells $2.3 Million Of Peter Thiel-Backed Bullish Shares, Ark Adds Crypto Names Coinbase, Circle, Robinhood — benzinga Nov 3, 2026 neutral
- NEWS Coinbase, Robinhood and Other Crypto Exchange Stocks Tumble as Binance Hack Exposes Vulnerabilities — benzinga Oct 31, 2026 negative
Latest item Nov 3, 2026 · Generated 2026-11-04T11:49:36Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
2 floor-breakers·1 ceiling hit
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $22.96: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.6/10 and A.R:R 3.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 14%; Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $21.53. Score 5.6/10, moderate confidence.
Analyst target: $35.51 (+54.7% upside). Prior stop was $21.53. Stop-loss: $21.53.
Quality below floor (3.8 < 4.0).
Bullish trades at a P/E of N/A (forward 31.9). TrendMatrix value score: 5.5/10. Verdict: Sell.
19 analysts rate BLSH, with a consensus score of 3.8/5. 11 analysts publish price targets averaging $41.
What does Bullish do?Bullish, a global digital asset platform that provides market infrastructure and information services in United States....
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.