Bakkt Holdings Inc (NYSE:BKKT) is soaring on abnormally-high volume Wednesday.
Bakkt's average session volume is about 7.9 million over a 100-day period, according to data from Benzinga Pro. Wednesday's trading volume has already exceeded 52 million at publication time.
Bakkt operates a digital asset marketplace that enables consumers to buy, sell, store and spend digital assets. Because of the nature of its business, the stock tends to be volatile and move with cryptocurrency markets.
Bakkt is also trending across social media platforms. It was the top trending stock on Stocktwits at publication time.
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BKKT Price Action: Bakkt went public via special purpose acquisition company (SPAC) in October. Shares traded as high as $50.80 shortly after the company made its public debut, but have since struggled to find support, trading as low as $3.31.
The stock was up 29.8% at $7.71 at time of publication.
Photo: courtesy of Bakkt.
