Expion360 Inc. XPON stock is trading lower after the company announced Monday it authorized a 1-for-100 reverse stock split.
The Details: The purpose of the reverse stock split is to help the Company meet the minimum bid price requirement needed to maintain its Nasdaq listing.
The Reverse Stock Split is scheduled to become effective at 5:00 p.m. Pacific Time on October 8. Shares of Expion360 will begin trading on a split-adjusted basis when the market opens on October 9.
How To Buy Expion360 Stock
By now you're likely curious about how to participate in the market for Expion360 XPON – 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 Expion360 XPON, which is trading at $0.04 as of publishing time, $100 would buy you 2500.0 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.
XPON Price Action: Expion360 shares are trading 28.0% lower as of Monday morning at 1 cent, according to data from Benzinga Pro.
Image: 3087396 from Pixabay.
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