Why Nano Labs Stock Is Exploding Higher

Comments
Loading...
Zinger Key Points

Nano Labs Ltd NA shares are trading higher by 8.89% to $8.45 during Thursday’s session after the company announced its Bitcoin holdings exceed 360 units and are valued at $36 million.

What To Know: As of December 12, Nano Labs holds approximately 360 Bitcoins, valued at about $36.22 million. The company's average acquisition cost, including transaction fees is $99,700 per Bitcoin.

The company says this move highlights Nano Labs’ ongoing investment in digital assets.

Read Also: Trump Rings NYSE Opening Bell, Says Economy ‘Is Going To Be Very Strong’

How To Buy NA Stock

By now you're likely curious about how to participate in the market for Nano Labs – 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 Nano Labs, which is trading at $9.3 as of publishing time, $100 would buy you 10.75 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.

According to data from Benzinga Pro, NA has a 52-week high of 47.5 and a 52-week low of 2.749

Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!