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Siyata Mobile Inc (NASDAQ:SYTA) shares are trading higher. The company recently announced that it received an order from the City of Lancaster Public Utilities Department for its handsets and related accessories.
What Happened: Siyata shares rallied on Tuesday after the company announced that it received an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk handsets, VK7 Vehicle Kits and related accessories.
“Our SD7 Handset was deemed the best choice for use by the department because it is rugged, simple to use and is proven to provide both cost savings and operational benefits,” said Marc Seelenfreund, CEO of Siyata.
“Our solution surpasses the limitations of traditional land-to-mobile technology making it ideally suited for utility field work, which is often performed in extreme conditions when reliable communications are critical to restoring service and performing maintenance.”
Siyata shares are moving higher on continued momentum Wednesday. The company put out another press release with further details on Tuesday’s announcement.
Siyata said the Public Utilities department from Lancaster, Ohio decided to switch to Siyata’s handsets due to the cost savings and operational benefits. Siyata also noted that its SD7 handsets and VK7 Vehicle Kits have already been integrated into day-to-day operations for Lancaster Public Utilities Department.
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By now you're likely curious about how to participate in the market for Siyata Mobile – 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. In the case of Siyata Mobile, which is trading at $1.98 as of publishing time, $100 would buy you 50.51 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.
SYTA Price Action: Siyata shares were up 39.9% at $2.11 at the time of publication, according to Benzinga Pro.
Photo: 3844328 from Pixabay.
Posted In: SYTA
