Bakkt stock extends its 162% one-day gain on reports of Trump Media deal

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Investing.com --Donald Trump's social media company, Trump Media&Technology Group is advanced discussions to buy digital asset marketplace Bakkt Holdings Inc (NYSE:BKKT) in an all-stock deal, the Financial Times reported on Monday, citing people familiar with the matter.

Trump's Truth Social platform-parent Trump Media&Technology Group , which as been seeking to diversify its offerings beyond social media, recently launched crypto venture, World Liberty Financial.

President-elect Trump has previously positioned himself as pro-cryptocurrency on the campaign trial, promising to make America the "world capital for crypto and Bitcoin."

Bakkt surged more than 15% in premarket trading Tuesday, after registering a staggering 162% gain a day earlier. Meanwhile, Trump Media&Technology Group Corp (NASDAQ:DJT) closed 16% higher on Monday, but fell 4% in Tuesday's premarket trade.

Yasin Ebrahim contributed to this report.

* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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