Why Siyata Mobile Stock Is Surging Wednesday

Siyata Mobile Inc SYTA shares are trading higher Wednesday after the company announced a new partnership with telecom solutions provider JD Telecom.

What Happened: Siyata has announced a partnership with JD Telecom to expand distribution of its SD7 handsets, VK7 Vehicle Kits and related components. JD Telecom is a telecom solutions provider of commercial-grade vehicle solutions, as well as a strategic distribution partner for T-Mobile US Inc TMUS.

“JD Telecom is a trusted name in cellular vehicle solutions. We are pleased to partner with them and grow demand for our PoC devices. Together, we will work to attract new customers and increase unit sales,” said Marc Seelenfreund, CEO of Siyata.

How To Buy SYTA Stock

By now you're likely curious about how to participate in the market for Siyata – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Siyata, which is trading at $1.39 as of publishing time, $100 would buy you 71.94 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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SYTA Price Action: Siyata shares were up 42.5% at $1.99 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.