Why Siyata Mobile (SYTA) Stock Is Exploding Higher

Siyata Mobile Inc SYTA shares are trading higher by 4.5% to $0.71 during Thursday’s session after the company announced new orders for its SD7 handsets and related accessories valued at more than $4.5 million in aggregate for US wireless carriers.

CEO Marc Seelenfreund expects record sales in the third quarter of 2024, citing strong distribution channels and increasing adoption of the SD7 handset through relationships with leading U.S. carriers and their distributors.

The company has also appointed TJ Kennedy to its Advisory Board. Kennedy, the former President of FirstNet, brings extensive expertise in public safety broadband networks. Marc Seelenfreund, Siyata’s CEO, highlighted that Kennedy’s industry knowledge and success will aid Siyata in strategic thinking, operational execution and sales strategy, enhancing their presence in the public safety market.

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How To Buy SYTA Stock

By now you're likely curious about how to participate in the market for Siyata Mobile – 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. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Siyata Mobile, which is trading at $0.89 as of publishing time, $100 would buy you 112.36 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.

According to data from Benzinga Pro, SYTA has a 52-week high of $43.25 and a 52-week low of $0.62.