Written 3:14 PM April 26, 2022.
In today’s chart: notice the day trading range. $4.00 to $5.13. I suspect there is some serious money interested in buying shares of BKKT. I also added a small amount today for full disclosure.
Volume was 20 Million! Normal is 3 million. I would say that has potential to mark a price bottom.
Wall Street Adage: Volume precedes price. Please refer to the LOTM website for previous comments on Bakkt.
Of importance: Strong ownership by Intercontinental Exchange (ICE) at 67% ownership. big distribution partners in Mastercard (MS) and Fiserv (FISV) . Bakkt has No debt – cash is very high at above $360 million. Revenue at $39.4 million ttm is expected to reach $250 million in 2022. LOTM does not have a timeline or price target other than more than 100% appreciation. We are just noting that big buying entered the shares today.
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