Bakkt Gains Another 4% in Pre-Market! New Board Member Mike Alfred Boosts Market Sentiment
TradingKey – Mike Alfred joins Bakkt's board of directors, driving the stock up 4% today.
NEW YORK, September 23 – Bakkt (BKKT), the crypto platform backed by the Intercontinental Exchange (ICE), parent of the New York Stock Exchange, extended its gains on Tuesday, rising over 4% in pre-market trading before paring some gains to +3.4%. The stock is currently trading around $15.20.
Bakkt Stock Chart, Source: Google.
This surge follows yesterday's announcement of the appointment of digital assets heavyweight Mike Alfred to its board of directors. The news initially propelled the stock to skyrocket over 40% in the previous session, nearly erasing losses experienced earlier this year. For context, back in July, Bakkt's announcement of a $75 million public offering, with part of the proceeds intended for Bitcoin purchases, had triggered a sharp 40% single-day sell-off.
Market observers now believe Mike Alfred's arrival could steer the company toward significant breakthroughs. Alfred stated that Bakkt aims to build an institutional-grade fintech platform over the next decade, focusing on digital asset trading, stablecoin payments, AI agents, and Bitcoin (BTC).
Related Articles
Palantir: Why PLTR Is So Notorious, Its Stock Performance, and If It's a Buy
TradingKey — Palantir Technologies Inc. (PLTR) stock maintains its investment appeal, with analysts recommending buying on dips as valuation corrections and consistently strong earnings bolster its long-term prospects. While short-term volatility is driven by a cooling AI narrative and adjustments t
The U.S. Dollar Index Is the Key Driver of Gold Prices: Where Are the Dollar and Gold Headed Next?
TradingKey - The strength or weakness of the U.S. Dollar Index stands as the core determinant shaping gold's trajectory.
Nvidia Q3 Earnings Explode: $57B Smashes Wall Street, After-Hours Rally of 6% Slaps Down the "AI Bubble" Narrative!
Nvidia's Q3 earnings smashed expectations with record $57B revenue, triggering a 6% rally and debunking the "AI bubble" narrative. With a $500B Blackwell order backlog and surging demand from hyperscalers, Nvidia’s long-term AI infrastructure dominance remains solid despite short-term volatility.
U.S. September Nonfarm Payrolls: Two-Scenario Analysis, Will U.S. Stocks Diverge in Short-Term and Medium-to-Long-Term Trends?
TradingKey - This paper conducts an analysis of the U.S. September nonfarm payroll data and the subsequent employment market through two scenario-based assessments, alongside a short-term and medium-to-long-term outlook for U.S. stocks.
Strategy (MSTR): Why This Bitcoin Proxy Is Decoupling From BTC — And Is It Still a Buy?
TradingKey - Strategy stock is in a sustained decline and remains entrenched in a downward channel, as Bitcoin continues to fall and briefly dipped below $100,000 on November 4, leading to a sharp decline in Bitcoin-related stocks. We believe Strategy’s slump has not yet abated.
