Virax Biolabs Group Limited (NASDAQ:VRAX) shares are racing higher Monday as shares of mpox-related stocks climb after the World Health Organization (WHO) declared the virus a global health emergency last week.
Virax Biolabs engages in distribution of diagnostics test kits of various viral threats and is developing a proprietary T-Cell Test technology with the intention of providing an immunology profiling platform to assess an individual's immune risk profile against major global viral threats.
The WHO declared a public health emergency of international concern last Wednesday in response to increasing numbers of mpox cases.
"The emergence of a new clade of mpox, its rapid spread in eastern DRC, and the reporting of cases in several neighbouring countries are very worrying. On top of outbreaks of other mpox clades in DRC and other countries in Africa, it's clear that a coordinated international response is needed to stop these outbreaks and save lives," the WHO Director-General said.
Investors are monitoring the mpox outbreak and potential treatment-related companies, including GeoVax Labs, Inc. (NASDAQ:GOVX). Trading of Virax stock was halted once for volatility on Monday and has since resumed regular trading.
How To Buy VRAX Stock:
By now you're likely curious about how to participate in the market for Virax Biolabs Group – 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.
VRAX Price Action: According to Benzinga Pro, Virax Biolabs shares are up 204.9% at $6.49 at the time of publication Monday.
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