Trump Media is reportedly in advanced talks to acquire cryptocurrency trading firm Bakkt. Shares of both companies soared following the report. Trump Media shares rose sharply, while Bakkt shares experienced a dramatic surge accompanied by trading halts due to volatility. Bakkt stated it has enough capital to operate for at least a year but warned this outlook could change, potentially resulting in significant losses for shareholders. The company also disclosed a prior warning from the New York Stock Exchange about the risk of delisting due to its stock trading below the $1 minimum requirement.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Trump Media is reportedly in advanced talks to acquire cryptocurrency trading firm Bakkt.
00:07Shares of both companies soared following the report. Trump Media shares rose sharply,
00:11while Bakkt shares experienced a dramatic surge accompanied by trading halts due to volatility.
00:16Bakkt stated it has enough capital to operate for at least a year,
00:20but warned that this outlook could change, potentially resulting in significant losses
00:24for shareholders. The company also disclosed a prior warning from the New York Stock Exchange
00:29about the risk of delisting due to its stock trading below the dollar minimum required.