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Bakkt Holdings Inc (NYSE:BKKT) shares are trading lower by 16.3% to $0.33 Wednesday afternoon. The company announced a 1-for-25 reverse stock split.
This means that for every 25 shares held, shareholders will receive one share after the split. The reverse stock split will be effective as of the close of trading on the New York Stock Exchange on April 26. Trading of the adjusted Class A Common Stock is expected to begin on April 29.
Following the split, Bakkt says 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.
When deciding to hold on to or sell a stock, investors should consider their 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.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Bakkt stock currently has an RSI of 20.82, indicating oversold conditions.
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BKKT has a 52-week high of $2.75 and a 52-week low of $0.33.
Posted In: BKKT
