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Nano Nuclear Energy Inc. (NASDAQ:NNE) shares pulled back slightly Tuesday after gaining nearly 90% over the past five days. Here's a look at what's going on.
What To Know: Last week Nano announced the appointment of former Congressman Daniel M. Donovan Jr. to its executive advisory board and the signing of a memorandum of understanding (MOU) with the Rwanda Atomic Energy Board (RAEB) to advance the country's nuclear energy development.
On Monday, former President Donald Trump vowed to eliminate the EPA’s “power plant rule” and accelerate the deployment of advanced small modular nuclear reactors if elected which sent Nano Nuclear’s stock up 27% for the session.
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Additionally, Nano Nuclear announced Tuesday that it has purchased a 1.64-acre land package in Oak Ridge, Tennessee, which includes a 14,000-square-foot, two-story building to house its corporate headquarters. The company expects to ultimately employ up to 30 personnel at the facility.
Nano Nuclear shares have been trading on heavy volume with increased interest from retail investors. The stock also has outsized short-interest with 25.37% of shares being sold short, according to data from Benzinga Pro.
By now you're likely curious about how to participate in the market for Nano Nuclear Energy — 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, such as 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.
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.
NNE Price Action: According to Benzinga Pro, Nano Nuclear Energy shares ended Tuesday’s session down 1.45% at $10.91.
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Photo: Pete Linforth from Pixabay
Posted In: NNE
