Digital Brands Group Inc DBGI shares are trading higher by 287% to $11.09 Tuesday morning. The company on Tuesday re-affirmed its fiscal year 2024 forecast, expecting revenue between $27 million and $30 million, internal free cash flow of $6 million to $7 million, and EBITDA of $1.5 million to $2.0 million.
The company also announced no equity offerings for 2024 and a reduction in operating costs by $1 million. CEO Hil Davis expressed commitment to shareholder growth, highlighting the company’s exploration of strategic alternatives to maximize shareholder value given its assets and operating forecast relative to market value.
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How To Buy DBGI Stock
By now you're likely curious about how to participate in the market for Digital Brands 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, 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 Digital Brands Group, which is trading at $6.52 as of publishing time, $100 would buy you 15.34 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, DBGI has a 52-week high of $61.02 and a 52-week low of $2.30.
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