NextPlat Corp (NASDAQ:NXPL) shares are trading higher by 20.9% to $1.10 during Tuesday's session after the company announced its Board of Directors approved a $2 million share buyback program.
What Else: The initiative allows the company to buy back outstanding common stock at its discretion through various methods, including open market and privately negotiated transactions. The program's terms are flexible, with no obligation to purchase a specific number of shares, and it may be adjusted or terminated at any time.
NextPlat recently announced a projected record revenue of over $63 million for 2024, reflecting a 70% increase year-over-year. Growth is attributed to its satellite connectivity products, recurring high-margin airtime revenue and contributions from its healthcare segment.
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How To Buy NXPL Stock
By now you're likely curious about how to participate in the market for NextPlat – 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 NextPlat, which is trading at $1.07 as of publishing time, $100 would buy you 93.46 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.
According to data from Benzinga Pro, NXPL has a 52-week high of and a 52-week low of
