What's Going On With Pineapple Energy Shares Thursday?

Pineapple Energy Inc. PEGY stock is trading higher on Thursday after its subsidiary SUNation Energy announced an exclusive partnership with Empire Automotive.

What To Know: Through the partnership, Empire Automotive will provide complimentary SUNation Energy Level 2 EV charging stations to electric vehicle (EV) customers at its dealerships, with availability across its 20 locations.

The program is set to be rolled out within the coming months. Normally, EV buyers would need to purchase a charging station when buying their electric vehicle.

“The Level 2 EV charging infrastructure is fragmented with most vehicle manufacturers offering charging stations for purchase and connections to third party installers. It’s a cold hand off when the vehicle purchaser really wants a local company,” said Scott Maskin, Interim CEO of Pineapple Energy.

How To Buy Pineapple Energy Stock

By now you're likely curious about how to participate in the market for Pineapple Energy PEGY – 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 Pineapple Energy PEGY, which is trading at $0.11 as of publishing time, $100 would buy you 909.09 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.

Related Link: What’s Going On With SoFi Stock?

PEGY Price Action: At the time of writing, Pineapple Energy shares are moving 7.08% higher at 11 cents, according to data from Benzinga Pro.

Image: Image by Stan Petersen from Pixabay