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Akoustis Technologies, Inc (NASDAQ:AKTS) shares are trading higher Tuesday after the company announced it has received an additional purchase order for $13 million from an existing customer.
The Details:
Akoustis Technologies said the order is to satisfy the customer's seven Wi-Fi Access Points (AP) production programs. Including a prior $8 million purchase announced previously, the production commitments are valued at greater than $21 million. The arrangement also allows the customer to purchase additional quantities of XBAW RF filters depending on demand of their Wi-Fi AP product.
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“This new purchase order cements the strong relationship Akoustis has with this Tier1 Wi-Fi AP customer, whose architecture is well-served by Akoustis’ advanced filter capabilities and XBAW products," stated Colin Hunt, Akoustis VP of Sales and Business Development. “We plan on delivering several million units over the next 3-4 quarters to this customer—all of which are produced in our New York fab. This demand will support our customer’s existing Wi-Fi 6E and their new ramping Wi-Fi 7 platforms."
According to data from Benzinga Pro, Akoutis shares are moving on heavy trading volume with more than 59 million shares traded before the opening bell.
By now you're likely curious about how to participate in the market for Akoustis Technologies – 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.
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.
AKTS Price Action: According to Benzinga Pro, Akoustis Technologies shares are up 9.25% at 9 cents at the time of publication Tuesday.
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Posted In: AKTS
