Auddia Stock Is Soaring Tuesday: What's Driving The Action?

Auddia Inc AUUD shares are trading higher Tuesday after the company announced it recently launched both Apple CarPlay and Android Auto interfaces for its faidr mobile application.

What To Know: Auddia’s Apple Inc AAPL CarPlay and Android Auto interfaces allow consumers to mirror smartphone entertainment options on the screen of their vehicle’s infotainment system.

“Although our customers have been able to listen to faidr in the car through Bluetooth, the automatic connection and hands-free interface of accessing phone controls through the dash is easier, more convenient, and safer when performed through smartphone mirroring technologies like Apple CarPlay and Android Auto,” said Michael Lawless, CEO of Auddia.

“This integration into Apple CarPlay and Android Auto gives us far more reach within the US radio streaming space than we had with just our smartphone integration.”

In addition to providing access to Apple CarPlay and Android Auto, Auddia said it plans to pursue direct integrations into vehicle infotainment systems. The company also plans to expand listening options to smart speakers, desktop, home entertainment systems and other platforms.

Finally, Auddia said it expects to announce an AI-assisted music-only AM/FM offering in the fourth quarter. The company’s planned AI-assisted offering will give consumers the choice of listening to their favorite stations without ads or host commentary.

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How To Buy AUUD Stock

By now you're likely curious about how to participate in the market for Auddia – 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 Auddia, which is trading at $1.19 as of publishing time, $100 would buy you 84.03 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.

AUUD Price Action: Auddia shares were up 43.8% at $1.22 at the time of publication, according to Benzinga Pro.

Photo: Hadrian from Shutterstock.