Is Trump Media Going to Acquire a Cryptocurrency Trading Business? Here's What That Could Mean for the Stock.

Trump Media & Technology Group (NASDAQ: DJT) isn't profitable or generating much revenue, but the one thing it does have is cash, and it could soon put that to work. The company's business centers around its Truth Social platform, and it has been looking at expanding into other areas as well, including streaming video.And that may not be all, as the social media business appears to have its sights set on acquiring a cryptocurrency company, Bakkt Holdings (NYSE: BKKT).Bakkt operates a platform that enables users to buy, sell, and store cryptocurrencies. The company generated $1.9 billion in sales over the trailing 12 months, but with a high cost of sales, it squeezed out a tiny gross profit of just $74 million during that stretch. After factoring in its operating expenses, the business has incurred a loss of over $54 million during the past year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool