Bakkt Holdings Inc. (BKKT) announced a 1-for-25 reverse stock split, leading to a 16.3% decline in share price to $0.33 Wednesday afternoon. The company stated that the reverse stock split will be effective as of the close of trading on the New York Stock Exchange (NYSE) on April 26, with trading of the adjusted Class A Common Stock expected to begin on April 29.
Following the split, Bakkt emphasized that the company will continue to comply with reporting requirements and its Class A Common Stock and Public Warrants will remain listed on the NYSE under the symbols “BKKT” and “BKKT WS,” respectively.
The decision to hold on to or sell a stock should be based on an investor’s time horizon, unrealized gains, and total return. Shares of Bakkt have decreased by 74.87% in the past year. An investor who bought shares of Bakkt at the beginning of the year would take a loss of $1.78 per share if they sold it today. The stock has fallen 24.71% over the past month, meaning an investor who bought shares on Mar. 1 would see a capital loss of $0.28.
Bakkt shares have an all-time high of $42.52, representing 12435.38% upside from current levels. The Relative Strength Index (RSI) for Bakkt stock currently stands at 20.82, indicating oversold conditions.
For access to advanced charting and analysis tools and stock data, Benzinga PRO offers a free trial.
