MMTec, Inc. (NASDAQ:MTC) shares are trading lower on Thursday after the company announced a 1-for-8 reverse stock split.
The Details: The reverse stock split, approved by the board of directors on Nov. 21, 2024, will take effect on Dec. 18 at market open.
It will reduce the authorized number of shares of the company's common stock from 5,000,000,000 shares to 625,000,000 shares.
How To Buy MMTec Shares
By now you're likely curious about how to participate in the market for MMTEC (NASDAQ:MTC) – 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, 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 to do so.
In the the case of MMTEC (NASDAQ:MTC), which is trading at $0.23 as of publishing time, $100 would buy you 434.78 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.
MTC Price Action: At the time of publication, MMTec shares are trading 10.6% lower at 23 cents, according to data from Benzinga Pro.
Image: 1863880 from Pixabay.
