What's Going On With Upexi Shares Friday?

Upexi, Inc. UPXI shares are trading higher on Friday after the company announced it is reviewing trading activity for possible stock manipulation.

What To Know: The potential stock manipulation relates to the recently completed 12-for-1 reverse stock split on Oct. 3. In a press release, Upexi said that before announcing the split on Sept. 27, it had fewer than 5,000 shareholders.

After the split, five brokerage firms requested a total of 199,059 roundup shares, out of 202,183 total roundup shares requested. The total roundup shares requested represent approximately 19% of Upexi’s outstanding stock.

“[It] represents an increase of approximately 40 times the number of individual shareholders owning the Company’s common stock,” said Upexi. “The foregoing activity appears to have occurred during the 3 day trading period between the reverse split announcement and the effective date of the reverse split.”

The company’s shares have surged over 300% on Friday, trading at a significantly higher-than-normal volume. The company’s average session volume over the last 100 days is 173.61 thousand, but Upexi is currently trading at a session volume of 14.71 million.

How To Buy Upexi Shares

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Upexi's case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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UPXI Price Action: At the time of publication, Upexi stock is moving 237.7% higher at $10.13 per data from Benzinga Pro.

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