Why FSD Pharma Stock Is Seeing Huge Gains

FSD Pharma Inc. HUGE shares are trading higher Friday after the company provided an update on its investment in Celly Nutrition. 

The Details:

FSD Pharma and Celly announced the imminent launch of its product, unbuzzd, which is expected to launch as a mixable in three packs and eighteen packs on Amazon later this month. Celly Nutrition plans to add 12oz Ready to Drink cans to the unbuzzd lineup later in 2024. 

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The company also announced the closing of its first round of financing, under which it issued 6,833,332 common shares for gross proceeds of $203,469. 

FSD Pharma shares are soaring on heavy trading volume Friday. According to data from Benzinga Pro, more than 900 million shares have already been traded in the session, compared to the stock's float of 40.157 million shares. 

How To Buy HUGE Stock:

By now you're likely curious about how to participate in the market for FSD Pharma – 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, 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.

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.

HUGE Price Action: According to Benzinga Pro, FSD Pharma shares are up 267% at 33 cents at the time of publication Friday.

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 Image: Pete Linforth from Pixabay