Jet.AI Inc. (NASDAQ:JTAI) shares fell Thursday after the company announced it entered into an agreement with certain institutional investors to purchase approximately 26.6 million shares of common stock in a registered direct offering.
The Details: Jet.AI announced the pricing of the offering will be nine cents per share with gross proceeds of approximately $2.4 million to the company before deducting the estimated offering expenses. The offering is expected to close on or about Oct. 11.
Jet.AI shares reached an intraday high of 25 cents before reversing in afternoon trading when the direct offering was announced. The stock moved lower on heavy trading volume with more than 805 million shares traded in Thursday's session, according to data from Benzinga Pro.
How To Buy JTAI Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Jet AI's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
JTAI Price Action: According to Benzinga Pro, Jet.AI shares are up 8.57% after-hours at 8 cents after falling 11.77% in regular trading Thursday.
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