TLDR

MARKET RECAP →  The Nasdaq (QQQ) climbed on Monday, driven by a Tesla (TSLA) rally, as Wall Street prepared for a wave of impactful earnings reports.

SPIRIT AIRLINES FILES FOR BANKRUPTCY → ✈️ Spirit Airlines (SAVE) filed for Chapter 11 bankruptcy, citing over $2.5 billion in losses since 2020, but plans to continue normal operations while restructuring its debt.

TRUMP MEDIA EYES CRYPTO EXPANSION → Trump Media (DJT) is reportedly in advanced talks to buy crypto platform Bakkt (BKKT), sending both companies' stocks soaring, with Bakkt up 162%. 🚀

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TODAY’S TOP NEWS

Spirit Airlines Files for Bankruptcy

Financial Struggles: Spirit Airlines (SAVE) filed for Chapter 11 bankruptcy protection due to over $2.5 billion in losses since 2020 and upcoming debt payments exceeding $1 billion.

Operational Continuity: Despite the bankruptcy filing, Spirit plans to maintain normal operations, allowing customers to book flights and redeem loyalty points without interruption.

Restructuring Plans: The airline aims to reduce its flight schedule by nearly 20% in the fourth quarter to support fare increases, with a goal to emerge from bankruptcy by early 2025.

TODAY’S TOP NEWS

Trump Media Eyes Crypto Expansion

🔗 Trump Media (DJT) reportedly entered advanced talks to acquire cryptocurrency trading firm Bakkt (BKKT) sparking a surge in both companies' stock prices. Trump Media, majority-owned by President-elect Trump, jumped 16%, while Bakkt shares skyrocketed 162% amid trading halts.

💸 Bakkt, originally launched by Intercontinental Exchange (parent company of the NYSE), gained attention for its high-profile connections, including Kelly Loeffler, its former CEO and a Trump ally. The acquisition could mark Trump Media's first major foray into crypto, amplifying its market influence.

📉 Despite a $363 million net loss year-to-date, Trump Media boasts a $7 billion valuation fueled by retail investor enthusiasm. If the deal goes through, it could position the company at the intersection of crypto trading and political momentum.

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