ICoreConnect, Inc. ICCT shares are moving higher Wednesday after the company announced it agreed to sell its managed service provider division to The 20 LLC.
The Details: ICoreConnect anticipates that the divestiture will provide a plethora of benefits for the company.
The company said that the divesture will, “generate capital that will be used to reduce debt and reinvest in core areas of the business.” In addition, ICoreConnect expects the divestiture will allow the company to allocate resources more effectively.
Furthermore, this decision aligns with the company’s objective to streamline operations and prioritize higher-margin SaaS opportunities that better support its long-term strategic vision.
Lastly, the company said, “a leaner organizational structure will reduce complexity and enhance the company’s ability to quickly respond to market dynamics and competitive pressures.”
How To Buy ICoreConnect Stock
By now you're likely curious about how to participate in the market for iCoreConnect ICCT – 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 iCoreConnect ICCT, which is trading at $0.51 as of publishing time, $100 would buy you 196.08 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.
ICCT Price Action: At the time of writing, ICoreConnect stock is moving 41.3% higher at 49 cents, according to data from Benzinga Pro.
Image: Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
