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Crypto Platform Bakkt Dives as Forecast Dims Post-SPAC Optimism

  • Investors focused projections made ahead of SPAC merger
  • CEO says the company is aggressively investing to grow
Updated on

Bakkt Holdings Inc. shares slid 19%, the biggest drop since mid-December, after quarterly results left investors questioning how long the digital-asset marketplace will take to realize its much ballyhooed potential.  

The slide comes even after the Alpharetta, Georgia-based company reported revenue of $39.4 million, an almost 40% jump from the year-earlier period. Investors on a conference call keyed on the firm’s 2022 outlook, asking whether Bakkt could meet months-old projections made in the midst of its merger with a blank-check company.