Bakkt’s Shares Could Be Delisted from NYSE

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The NYSE has issued a warning to Bakkt, stating that if the average closing share price of the crypto custody and trading platform does not go above $1, it may face delisting.

Bakkt, in a press release on March 13, confirmed that the stock exchange had notified them of non-compliance with listing rules. According to their 30-day trading record, the average share price of Bakkt closed below $1.

Currently, Bakkt’s share price stands at 60 cents, up 2.8% from the previous day, but has fallen by 42% in the past month from its high of $40 in late October 2021 (as per Google Finance). Bakkt stated that it plans to rectify the stock price deficiency and return to compliance with the NYSE’s standards.

To achieve this, they may consider a reverse stock split, which involves combining existing shares to raise their value, subject to shareholder approval.