Why SciSparc (SPRC) Stock Is Skyrocketing Today

SciSparc Ltd (NASDAQ:SPRC) shares are trading sharply higher Wednesday morning after AutoMax Motors Ltd. filed a motion with the Jerusalem District Court in connection with its merger with the company. Here’s what investors need to know.

What To Know: The court granted AutoMax's request to stay the merger proceedings until September 30. AutoMax requested the postponement due to concerns about its ability to meet the closing conditions following recent developments in its business.

The companies first signed a merger agreement on April 10, 2024. Investors are closely watching for developments as the new September 30 deadline approaches.

Price Action: According to data from Benzinga Pro, SPRC shares are trading higher by 160.33% to $4.775 Wednesday morning. The stock has a 52-week high of $37.59 and a 52-week low of $1.75.

Read Also: Nio Stock Is Rising Wednesday: What’s Driving The Momentum?

How To Buy SPRC Stock

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

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