Bakkt Holdings falls on lowered annual revenue forecast

Bakkt

14/08/2024 16:43

** Shares of crypto trading and custody firm Bakkt Holdings
 BKKT.N  drop 9.3% to $13.86 
    ** Co sees 2024 revenue in the range of $2.57 bln to $2.83
bln vs prior expectations of $3 bln to $4.45 bln
    ** Tepid revenue forecast comes despite optimism in the
crypto industry due to the approval of spot bitcoin ETFs earlier
this year
    ** As of previous close, BKKT has lost ~73% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))