Why Cosmos Health Stock Is Moving Higher Wednesday

Cosmos Health Inc. COSM stock is trading higher on Wednesday after the company said it continues to hold the right to distribute mpox real-time PCR detection kits under its agreement with Virax Biolabs Group Limited VRAX. Specifically, the company holds exclusive distribution rights in Greece and Cyprus and non-exclusive distribution rights across Europe.

What To Know: Virax Biolabs introduced the monkeypox kits back in 2022 and continues to distribute the diagnostic test kits. The company creates test kits for other viral threats as well and is currently creating T-Cell Test technology with the goal of evaluating an individual’s immune risk profile against potential viral threats.

Greg Siokas, CEO of Cosmos Health, said “In these challenging times, as mpox emerges in Europe, Cosmos is well-positioned to support governments and public health authorities in the EU/EEA by enhancing preparedness, planning, and awareness efforts to ensure rapid detection and effective response.”

This comes after the World Health Organization (WHO) determined on August 14 that the uptick of mpox cases in the Democratic Republic of the Congo along with other countries in Africa constitutes a public health emergency. WHO announced that over 100 confirmed case of the strain clade 1b have been reported in countries surrounding the Democratic Republic of the Congo.

However, it seems that one clade is not solely responsible for recent outbreaks. The WHO stated in a press release that, “Several outbreaks of different clades of mpox have occurred in different countries, with different modes of transmission and different levels of risk.”

The WHO has also reported that Sweden is the first country outside of Africa to confirm the presence of the strain clade 1b. It was confirmed in an individual who had recently traveled to Africa.

How To Buy Cosmos Health Shares

By now you're likely curious about how to participate in the market for Cosmos Health COSM – 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, or Amazon.com, 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 Cosmos Health COSM, which is trading at $1.22 as of publishing time, $100 would buy you 81.97 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.

See Also: Cracking The Code: Understanding Analyst Reviews For CollPlant Biotechnologies

COSM Price Action: Cosmos Health shares are moving 14.9% higher at $1.23 per data from Benzinga Pro.

Image: 106583 from Pixabay.