Why Spectaire (SPEC) Stock Is Popping Off

Zinger Key Points
  • Spectaire shares are trading higher by 15% during Wednesday's session.
  • The company announced that it signed a distribution partnership agreement with a Fortune 1000 Energy Company.

Spectaire Holdings Inc SPEC shares are trading higher by 15% to $0.92 during Wednesday’s session after the company announced that it signed a distribution partnership agreement with a Fortune 1000 Energy Company.

What Happened?

Spectaire has signed a distribution partnership with a Fortune 1000 Energy Company, granting them global distribution rights for Spectaire’s AireCore units designed for the oil and gas industry.

Spectaire says AireCore offers real-time visualization of emissions data during drilling operations, aiding companies in emission reduction efforts and environmental impact mitigation.

The collaboration aims to set new standards in environmental measurement and emissions reduction within the oil and gas sector.

See Also: Biden To Announce Tariff Hikes On Chinese Steel, Aluminum Imports

How To Buy SPEC Stock

By now you're likely curious about how to participate in the market for Spectaire Holdings – 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 Spectaire Holdings, which is trading at $0.93 as of publishing time, $100 would buy you 107.53 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, SPEC has a 52-week high of $8.04 and a 52-week low of $0.62.

Market News and Data brought to you by Benzinga APIs
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!