Digital asset platform Bakkt Holdings Inc (NYSE:BKKT) saw its stock make a strong recovery this past Friday as investors flocked to it and sent it higher by as much as 6%. Although the rally in the stock was notable, it should be noted that despite the recovery, the Bakkt Holdings stock is still down by as much as 9% for the past week.
Trading Data
On Friday, BKKT stock gained 5.87% to $3.61 with 4.40 million shares, compared to its average volume of 8.22 million shares. The stock has moved within a range of $3.3100 – 3.6100 after opening trade at $3.47.
Bakkt Selected by Nexo to Securely Custody Bitcoin, Ethereum
There was no news about the company last week but it may be a good time to perhaps take a look at the announcement from Bakkt from January 19.
At the time, the company announced that it had gone into a partnership with Nexo, which is one of the best known institutions in the regulated digital assets space. As per the terms of the partnership, Nexo is going to have the privilege of using the Bakkt Warehouse for the purposes of custody crypto assets.
The latest announcement was a significant one but it was only on Friday that the Bakkt stock actually made an upward move after having been down in the dumps previously. It now remains to be seen if the stock can continue on its path to recovery.
Technical Data
BKKT stock is trading below the 50-Day and 200-Day Moving averages of $5.73 and $10.20 respectively. Moreover, the stock is trading below the 20-Day moving average of $11.77.
