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Seeking Alpha 2021-12-08 21:15:11

Bakkt Holdings stock climbs 30%, after sharp decline in past month

Bakkt Holdings (NYSE:BKKT) stock surged 30%, clawing back a fraction of the 59% drop it suffered in the past month. At $17.05 in recent trading, it's still far from its all-time high of $50.80. To be sure, it's a volatile stock and it isn't unusual for BKKT to fall 10% or rise 14% on any given day. The gain comes after the company filed an amended 10-Q for the quarter ended Sept. 30, 2021 to restate previous quarters; recall that the SPAC VPC Impact Acquisition Holdings combined with Bakkt on Oct. 15, when it started trading under the BKKT ticker. The company also said it found material weakness in the former company, but as a result of the business combination, it has a new CEO, chief financial officer, and chief accounting officer. The amendment explains that the company's public shares contain a redemption feature. The company has identified errors made

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