Why SOBR Safe Stock Is Getting Hammered

SOBR Safe Inc SOBR shares are trading lower by 33.4% to $6.72 during Tuesday’s session after the company announced the pricing of a private placement with institutional investors, expected to raise $8.2 million in gross proceeds.

The company plans to issue 2,024,691 units at $4.05 per unit, each consisting of one share of common stock or a pre-funded warrant, along with Series A and Series B warrants.

The proceeds will be used for general corporate purposes and working capital. The private placement is expected to close by October 8, pending customary closing conditions.

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How To Buy SOBR 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 Sobr Safe’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.

According to data from Benzinga Pro, SOBR has a 52-week high of $110.00 and a 52-week low of $3.70.