Maxeon Solar Technologies, Ltd. MAXN shares are moving lower on Monday after the company announced a reverse stock split.
The Details: Shareholders of the company approved a 1-for-100 reverse stock split on August 29. This comes after Maxeon received a Staff Determination letter from the Nasdaq warning the company of a potential delisting after its stock traded at 10 cents or less for 10 consecutive trading days.
The company has requested a hearing which will hold off the delisting. Maxeon believes that the reverse stock split will bring the company’s stock above the $1 per share minimum bid price requirement.
How To Buy Maxeon Stock
By now you're likely curious about how to participate in the market for Maxeon Solar Technologies MAXN – 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.
In the the case of Maxeon Solar Technologies MAXN, which is trading at $0.08 as of publishing time, $100 would buy you 1250.0 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.
MAXN Price Action: At the time of writing, Maxeon stock is moving 9.62% lower at 8 cents, according to data from Benzinga Pro.
Image: 4937349 from Pixabay
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