- BKKT is the latest SPAC meme runner, but I believe the run will be short-lived.
- IRNT was September's most popular SPAC meme runner, and it collapsed over 75% from its high in the days that followed registration of its shares and warrants.
- BKKT must register its shares for sale and warrants exercisable by November 14.
- The warrants trade below their intrinsic value, foretelling a collapse in the stock price. But this collapse likely won't as severe as other recent SPAC meme stocks.
- I expect BKKT to sink to $20 by the end of November, if not sooner. That's the price level for which long term investors should consider an entry.
For further details see:
Bakkt Holdings: This $11 Billion SPAC Could Crash To $20 Within A Month Upon Registration Of Its Shares And Warrants