Why SOBR Safe Stock Is Soaring

SOBR Safe, Inc. SOBR shares are trading higher Tuesday after the company announced SOBRsure device purchases from two new customers.

The Details:

Sobr Safe announced it has signed hardware and software agreements with recovery services providers Hired Power and The Firm. Both providers have made initial SOBRsure device purchases. Both companies also intend to replace breathalyzers for use in remote client monitoring following the launch of Sobr Safe’s enterprise client management software.

Sobr Safe shares are moving on heavy trading volume following the company’s announcement. According to data from Benzinga Pro, more than 224.6 million shares have already been traded in the session, far exceeding the stock’s 100-day average of 4.148 million shares.

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How To Buy SOBR Stock:

By now you're likely curious about how to participate in the market for Sobr Safe SOBR – 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 Sobr Safe, which is trading at $0.53 as of publishing time, $100 would buy you 188.68 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.

SOBR Price Action: According to Benzinga Pro, SOBR Safe shares are up 82% at 47 cents at the time of publication Tuesday.

Image: Gerd Altmann from Pixabay