Primarily due to the pandemic recovery, but the meme stocks trend did play a minor role in its strong performance.
If you’re bullish crypto will make a comeback next year, consider this stock another way to play it.ĭuring 2021, CLF stock rose around 39%. New partnerships, such as the one announced recently with Manasquan Bank, could also enable Bakkt Holdings to move in the right direction once again. In the months ahead, subsequent developments could help it to bounce back, including updates on its user base expansion efforts. Even so, while it’s gone from $10 to $50, and back to $10 and below, now may be a great time to initiate a position. Adding to it, anticipated high insider selling. Chalk it up to the volatility seen lately in the markets. However, since this surge in price, BKKT stock below where it started. Both relationships could help expand the number of individuals, merchants, and financial institutions that use Bakkt’s platform. Second is another partnership deal, this one with Fiserv (NASDAQ: FISV). But it was two key developments not too long after that that sent its shares rocketing from just under its SPAC offering price ($10 per share), to as much as $50.80 per share.įirst, a partnership deal with Mastercard (NYSE: MA), gives it access to the payment giant’s global network. Stock Market Crash Coming? 7 Wall Street Pros Make Their PredictionsĪlthough the meme stocks phenomenon is sagging in popularity, these seven current and/or former Reddit favorites could make another “to the moon” move or two in 2022:Ī financial services firm with a crypto focus, Bakkt Holdings went public in October, via a special purpose acquisition company (SPAC) merger.Instead, due to their own respective catalysts. However, not due to another wave of meme mania. Among the scores of stocks once boosted by the trend, there are plenty that could buck the latest trend, and move higher. That said, don’t take this to mean all meme plays are “avoid-at-all-cost” situations.
Penny stocks caught up in the meme stocks trend, like Sundial Growers (NASDAQ: SNDL), have given back their respective meme-related gains. The same thing has happened for key secondary plays once popular with retail traders active on platforms like Reddit’s r/WallStreetBets subreddit, such as short-squeeze targets like Clover Health (NASDAQ: CLOV) and ContextLogic (NASDAQ: WISH).
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