Crown Electrokinetics Corp (NASDAQ:CRKN) shares are trading higher Monday after the company announced that its PE Pipelines division has secured two contracts valued at $33 million for lead pipe remediation.
The Details:
PE Pipelines is the pipe repair, replacement and lead pipe remediation specialty division of Crown Electrokinetics. The company said work on the two contracts is scheduled to begin in January 2025.
"We continue to execute our business plan as promised. When we started the PE Pipelines division, we communicated that with it, we were adding some world-class experts, innovators, and operators to ensure its success. Today's $33M contract is a testimonial to both the caliber of our team, and our ability to execute. Most importantly, we believe we have just scratched the surface of this market opportunity," Crown's CEO Doug Croxall stated.
According to data from Benzinga Pro, Crown Electrokinetics shares are trading below the stock's 50-day moving average of $2.20 and near its 52-week low of $1.06.
How To Buy CRKN Stock:
By now you're likely curious about how to participate in the market for Crown ElectroKinetics – 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.
In the the case of Crown ElectroKinetics, which is trading at $1.23 as of publishing time, $100 would buy you 81.3 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.
CRKN Price Action: According to Benzinga Pro, Crown Electrokinetics shares are up 4.20% at $1.24 at the time of publication Monday.
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Image: Gerd Altmann from Pixabay