Bakkt stock rises after Benchmark starts at Buy in new coverage

[Bitcoin coins in front of bakkt sign made of wood with reflection on the table, Slovenia - December 27th]
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Bakkt Holdings (NYSE:BKKT [https://seekingalpha.com/symbol/BKKT]) shares gained 5.5% in Monday morning trading after Benchmark started coverage on the crypto-focused company with a Buy rating, pointing to its recent restructuring that gives it a "fresh start."

'The divestiture of its custody business and the pending sale [https://seekingalpha.com/news/4472961-bakkt-announces-prelim-q2-results-and-signs-agreement-to-sell-its-loyalty-business] of its legacy loyalty business mark a decisive exit from capital-intensive, non-core operations that weighed on its profitability and investor confidence," analyst Mark Palmer wrote in a note."

"With new leadership [https://seekingalpha.com/news/4483763-bakkt-names-akshay-naheta-as-sole-ceo-and-president-as-andrew-main-steps-down] under CEO Akshay Naheta, BKKT is refocusing around three high-conviction initiatives: a revamped “brokerage-in-a-box” solution, a new bitcoin treasury strategy that will be multinational in scope, and a stablecoin payments initiative facilitated by its partnership with Distributed Technologies Research," he added.

Bakkt (NYSE:BKKT [https://seekingalpha.com/symbol/BKKT]) stock was still down some 64% this year, with short interest [https://seekingalpha.com/symbol/BKKT] at 16.6%.

MORE ON BAKKT HOLDINGS

* Bakkt Holdings, Inc. (BKKT) Q2 2025 Earnings Conference Call Transcript [https://seekingalpha.com/article/4812392-bakkt-holdings-inc-bkkt-q2-2025-earnings-conference-call-transcript]
* Bakkt Holdings, Inc. 2025 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4812364-bakkt-holdings-inc-2025-q2-results-earnings-call-presentation]
* Bakkt's Jump Into Bitcoin As A Treasury Strategy Distracts From Liquidity Angst [https://seekingalpha.com/article/4797716-bakkts-jump-bitcoin-treasury-strategy-distracts-liquidity-angst]
* Bakkt names Akshay Naheta as sole CEO and President as Andrew Main steps down [https://seekingalpha.com/news/4483763-bakkt-names-akshay-naheta-as-sole-ceo-and-president-as-andrew-main-steps-down]
* Bakkt signals pure-play crypto shift and launches stablecoin payments following $75M capital raise [https://seekingalpha.com/news/4483607-bakkt-signals-pure-play-crypto-shift-and-launches-stablecoin-payments-following-75m-capital]