Bakkt stock extends its 162% one-day gain on reports of Trump Media deal

Investing.com --Donald Trump's social media company, Trump Media & Technology Group is advanced discussions to buy digital asset marketplace Bakkt Holdings Inc (NYSE:BKKT ) in an all-stock deal, the Financial Times reported on Monday, citing people familiar with the matter.

Trump's Truth Social platform-parent Trump Media & Technology Group , which as been seeking to diversify its offerings beyond social media, recently launched crypto venture, World Liberty Financial. 

President-elect Trump has previously positioned himself as pro-cryptocurrency on the campaign trial, promising to make America the "world capital for crypto and Bitcoin ."

Bakkt surged more than 15% in premarket trading Tuesday, after registering a staggering 162% gain a day earlier. Meanwhile, Trump Media & Technology Group Corp (NASDAQ:DJT ) closed 16% higher on Monday, but fell 4% in Tuesday's premarket trade. 

Yasin Ebrahim contributed to this report. 

Source: Investing.com