Bakkt shares rise 30% as crypto platform considers sale
Share link:In this post: Crypto marketplace Bakkt is considering a potential sale. Shares of Bakkt rose as much as 30% after the news. Bakkt’s sale comes as the crypto industry is seeing a surge in acquisition activity.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment
Shares of Bakkt rose as much as 30% on Friday after reports that the New York stock exchange-listed crypto marketplace is considering a potential sale. Earlier, Bloomberg reported that Bakkt engaged a financial advisor to look at several “strategic options” that may end up in a sale, or even a “breakup”.
Also read: Bakkt announces leadership shake-up ahead of financial release
According to the report , which cited people with knowledge of the matter, a final decision has not been made yet. Bakkt , valued at $255 million, could still choose to “remain independent”, it said. The company operates a crypto custody service and a trading platform that targets institutional investors.
Bakkt sale comes as crypto acquisitions rise
Shares of Bakkt rose as much as 30% to an intraday high of $24.74 after the news on June 7, according to Google Finance. The stock later pared those gains to close at $19.04 and is down 64% since January. Over the past year, the share price has touched a high of $68.75 and a low of $5.57
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