Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

by admin November 20, 2024
November 20, 2024
Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

Trump Media is reportedly in “advanced talks” to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.

The news sent shares of both companies soaring.

Trump Media, which is majority-owned by President-elect Donald Trump, shot up by double digits minutes after the FT report was published.

The company, which operates the Truth Social app and trades on the Nasdaq as DJT, closed more than 16% higher.

Shares of Bakkt — which was created by Intercontinental Exchange, the owner of the New York Stock Exchange — skyrocketed more than 162% amid repeated trading halts due to volatility.

Kelly Loeffler, a previous CEO of Bakkt, is the co-chair of Trump’s inauguration committee.

Loeffler, who is married to Intercontinental Exchange CEO Jeffrey Sprecher, left as Bakkt’s top executive in 2019 when Georgia Gov. Brian Kemp appointed her to the U.S. Senate seat vacated by Sen. Johnny Isakson, who resigned due to health reasons.

Loeffler was defeated by Democratic Sen. Raphael Warnock in a runoff for a special election for her Senate seat.

Trump Media has seen its market value rise and fall by billions of dollars in the run-up to the 2024 presidential election, as retail investors bet on the Republican’s momentum and political prospects.

While Trump Media has reported a $363 million net loss on revenues of just $2.6 million so far this year, it boasts a market cap above $7 billion.

A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Equities Look for “Energy” in “Go” Trend
next post
Dental supply stock surges on RFK’s anti-fluoride stance, activist involvement

Related Posts

A key to Biden’s lagging wind energy goal...

July 1, 2024

Nvidia results spark global chip rally

May 30, 2025

Retiring Corvette ‘godfather’ on EVs, spinoff and a...

August 7, 2024

KFC moves U.S. headquarters from Kentucky to Texas

February 20, 2025

DJT shares jump after Trump Media rolls out...

August 4, 2024

AI drive-thru ordering is on the rise —...

July 4, 2024

Air travel demand is breaking records. Airline profits...

July 9, 2024

Federal Trade Commission accuses three drug middlemen of...

September 24, 2024

Target stock falls 21% as big discounting effort...

November 21, 2024

Macy’s CEO says retailer will hike some prices...

May 29, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • How I Find Up-trending Stocks Every Week (Step-by-Step Scan Tutorial)

      June 4, 2025
    • S&P 500 Bullish Patterns: Are Higher Highs Ahead?

      June 4, 2025
    • White House stands by tax bill after Musk calls it a ‘disgusting abomination’

      June 4, 2025
    • South Korea flips left in presidential race; Lee secures victory after conservative opponent concedes

      June 4, 2025
    • Trump and Melania to headline power-player packed Kennedy Center opening night

      June 4, 2025

    Categories

    • Business (964)
    • Investing (2,310)
    • Politics (2,863)
    • Stocks (1,051)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved