Trump Media's Stock Pops After Reports It's in Talks to Buy Crypto Exchange Bakkt

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Trump Media's Stock Pops After Reports It's in Talks to Buy Crypto Exchange Bakkt

Investopedia11-19

Key Takeaways Trump Media & Technology Group shares jumped Monday following a Financial Times report the Truth Social owner is in talks to buy cryptocurrency trading platform Bakkt.President-elect ...

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The financial terms of the deal under consideration were not disclosed.\n\n\n The surge in Trump Media shares stands to benefit President-elect Donald Trump, who holds a 53% stake in Trump Media, and said earlier this month that he has “no intention” of selling his stake in the company. The stock has seen volatile swings in the wake of Trump’s Nov. 5 election victory, and despite Monday's gains, shares have lost about 3% since the election. \n\n\n Bakkt, which went public in 2021, is owned by Intercontinental Exchange (ICE). Its first CEO was Kelly Loeffler, a former Republican senator from Georgia and the current co-chair of Trump’s inaugural committee.\n\nDo you have a news tip for Investopedia reporters? 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