Bakkt Up Early After Director Buys $4.85M in Shares
Bakkt shares jumped 14.2% to $9.96 in pre-market trading Tuesday after a filing showed director Michael Alfred’s vehicle bought $4.85 million in stock. SEC documents said Alfred acquired 585,000 shares last week via Alpine Fox LP. CEO Akshay Naheta exercised options for 33,557 shares at $10 each. Bakkt recently reported Q1 revenue of $243.6 million, down sharply from a year earlier.