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The stock surged more than 100% on October 25 on the news of the company’s partnership with Mastercard Incorporated (NYSE:MA) and Fiserv, Inc. (NASDAQ:FISV). However, the stock plunged 17% in price on October 26.
SPACs continue to face increased regulatory pressures. Last month, House or Representatives Democrats put forward a proposal that would essentially block investment banks from marketing SPAC deals to retail investors. Also, BKKT faces stiff competition from other established players that offer cryptocurrency trading, so its near-term prospects look uncertain.
