NINGI Research says short Bakkt, any potential acquisition ‘off the table’

NINGI Research says it is short Bakkt (BKKT). “The thesis is straightforward-no need for a detailed report. With $DJT partnering with Charles Schwab (SCHW), any potential acquisition of $BKKT is off the table. The recent spike in $BKKT’s share price was purely driven by acquisition rumors,” NINGI argued. “$BKKT skyrocketed last November from around $11 to over $35 following an FT article about a potential all-share acquisition. We believe this deal is now off the table, and $BKKT’s share price will revert to previous levels,” it said on X.