Why Urgent.ly (ULY) Stock Is Skyrocketing

Urgent.ly Inc ULY shares are trading higher by 43% to 60 cents during Thursday’s session after the company announced it entered into a new credit agreement for an asset-based revolving credit facility for up to $20 million with MidCap Financial.

What To Know: Urgent.ly, a digital roadside and mobility assistance platform, secured a $20 million credit facility with MidCap Financial to restructure its capital. The facility will repay debt and support efforts to disrupt the roadside assistance market and expand connected mobility services.

CEO Matt Booth highlighted the continued support from strategic partners. Chardan meanwhile served as the exclusive financial advisor.

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How To Buy ULY Stock

By now you're likely curious about how to participate in the market for Urgently – 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 Urgently, which is trading at $0.75 as of publishing time, $100 would buy you 133.33 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, ULY has a 52-week high of $3.45 and a 52-week low of $0.41.