NovaBay Stock Is Trading Higher Wednesday: What's Going On?

NovaBay Pharmaceuticals, Inc. (AMEX:NBY) stock is trading higher on Wednesday after the company announced it entered into a $6 million securities purchase agreement with a private investor.

What To Know: NovaBay receives $3.85 million in the first closing of a $6 million deal with investor David E. Lazar, with a second $2.15 million closing contingent on stockholder approval at the 2025 annual meeting. Lazar is appointed CEO and joins the board as part of the agreement.

The investment replaces previously authorized liquidation plans, keeping NovaBay's stock listed on the NYSE American exchange. The company plans to use the proceeds for a strategic investment or acquisition and expects to declare a special cash dividend in the third quarter.

How To Buy NovaBay Stock

By now you're likely curious about how to participate in the market for NovaBay – 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.

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.

See Also: Palantir Just Broke Below 50-Day Average—Is It Time To Buy The Dip?

NBY Price Action: At the time of writing, Novabay stock is trading 70.00% higher at $1.03, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.