Will Bridgetown (BTWN) Stock Hit $20 In April After The Recent Move?

In recent times, startups based out of Indonesia have been in considerable focus among investors due to certain developments.

Will Bridgetown (BTWN) Stock Hit $20 In April After The Recent Move?

Unicorns based out of Indonesia can now have dual listings in the United States and that has prompted many of those companies to go public through SPAC (special purpose acquisition companies) mergers. That brings us to the subject of Bridgetown Holdings Ltd (NASDAQ: BTWN), which saw its stock soar by as high as 13% on Thursday.

Related:  GigaMedia (GIGM) Rockets 48% To Hit New Highs: Will It Sustain Today?

It is a SPAC and the emergence of fresh news about the company has possibly led to the rally in the rally in the stock. A report in a leading financial publication revealed that Bridgetown is considering the possibility of merging with PT Tokopedia, which is backed by SoftBank. The merger has been valued in the $8 billion to $10 billion range. Bridgetown is backed by the pair of billionaires Peter Thiel and Richard Li. It remains to be seen if the stock can continue to record gains today.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.