What's Going On With Okta Shares Tuesday?

Okta Inc OKTA shares are trading higher. The company on Tuesday announced a multi-year partnership with the McLaren Racing Formula 1 team.

What Happened: Cybersecurity company Okta entered into a multi-year partnership with the McLaren Formula 1 Team to explore ways to protect and improve how McLaren Racing’s fans, partners and employees access their apps and platforms.

“By coupling speed with security, together we’ll be able to strengthen the team’s confidence that their identities are secure so they can focus on their performance on track,” said Todd McKinnon, co-founder and CEO of Okta.

Following the initial deployment, Okta said it will also explore ways to further streamline the team’s digital infrastructure in an effort to increase their security capabilities and help them operate more securely and efficiently.

“This strategic partnership will enhance our team’s performance, efficiency and security off the track, enabling us to stay focused on building upon last season’s on-track successes,” said Zak Brown, CEO of McLaren Racing.

Okta shares may also be getting a lift on Tuesday as broader markets bounce back from heavy selling pressure on Monday driven by the emergence of Chinese AI startup DeepSeek.

The tech-heavy Nasdaq led the declines on Monday as investors weighed the potential for DeepSeek to challenge America’s AI leadership position. DeepSeek reportedly developed its open-source LLM in a couple of months at a much lower cost than competitors. The company’s AI Assistant app also overtook OpenAI's ChatGPT as the top-rated free app in Apple's App Store this week.

See Also: DeepSeek’s Low-Cost Model Reshapes AI Landscape: Experts Predict Shift To ‘Application Layer’

How To Buy OKTA Stock

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 Okta's case, it is in the Information Technology 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.

OKTA Price Action: Okta shares were up 4.02% at $94.55 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.