Why Tuya Shares Are Moving During Tuesday's Session

Zinger Key Points
  • Tuya shares are trading higher by 7% during Tuesday's session.
  • The company announced that it joined the United Nations Global Compact.

Tuya Inc TUYA shares are trading higher by 7% to $2.13 during Tuesday’s session. The company announced that it joined the United Nations Global Compact (UNGC).

The company says this move highlights Tuya’s commitment to its “Ten Principles” on human rights, labor, environment and anti-corruption. This membership also highlights Tuya’s dedication to corporate social responsibility and sustainable development, leveraging technologies like generative AI.

The UNGC, initiated in 2000, is the largest international organization promoting corporate sustainability, with over 24,000 participants from nearly 170 countries.

See Also: US Markets Shift To T+1 Settlement Tuesday: How Will It Impact Your Trading Activity?

How To Buy TUYA Stock

By now you're likely curious about how to participate in the market for Tuya – 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 Tuya, which is trading at $1.99 as of publishing time, $100 would buy you 50.25 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, TUYA has a 52-week high of $2.50 and a 52-week low of $1.40.

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