ZenaTech (ZENA) Stock Is Down 21%: What's Going On?

ZenaTech Inc ZENA shares are pulling back some 21% to $8.07 Wednesday morning. The stock may be pulling back after surging Tuesday on momentum from last week’s announcement of strategic partnerships aimed at aligning its ZenaDrone 1000 AI drone solutions with U.S. defense standards.

What To Know: ZenaTech revealed last Thursday that its subsidiary, ZenaDrone, signed agreements ensuring compliance with Blue Unmanned Aerial Systems (UAS) and the U.S. National Defense Authorization Act (NDAA).

The company says these partnerships position ZenaTech to supply its drones to U.S. Defense branches and NATO forces, following successful trials with the U.S. Air Force and Navy for critical field operations.

CEO Shaun Passley credited the Arizona Commerce Authority for facilitating these partnerships, which qualify ZenaDrone for the Blue UAS list, a key step in expanding its defense market presence.

Read Also: MicroStrategy Surges 8% In Wednesday Pre-Market: What’s Going On?

How To Buy ZENA Stock

By now you're likely curious about how to participate in the market for ZenaTech – 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 ZenaTech, which is trading at $8.12 as of publishing time, $100 would buy you 12.32 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.

According to data from Benzinga Pro, ZENA has a 52-week high of $12.39 and a 52-week low of $1.41.