Bakkt Stock Tanks Amid Loss of Key Partnership with Webull

Bakkt's stock is trading at $7.36, down 3.58% on the day, and currently below its key moving averages.

The company recently lost its role as the crypto trading, custody, and infrastructure provider for Webull's 25 million global users, with Coinbase taking over these services.

This shift eliminates a significant partnership for Bakkt, reducing access to a large transaction base and diminishing a previously important revenue stream.

Bakkt stock is expected to remain in the $6.78 to $8.02 range, with a high probability of downside risk unless it can break decisively above immediate resistance at $8.07.