NovaBay Pharmaceuticals, Inc. (NBY) is experiencing a surge in its stock price following the announcement of a definitive agreement to sell its Avenova assets to Physician Recommended Nutraceuticals (PRN) for $9.5 million. This strategic move is expected to be finalized during the fourth quarter of 2024, subject to NovaBay shareholder approval.
NovaBay CEO Justin Hall expressed optimism about the deal, stating that PRN is the perfect fit for Avenova. He believes the brand will thrive under PRN’s leadership and reach a wider audience through their existing network of over 5,000 eyecare professionals. Hall highlighted the growing popularity of Avenova, emphasizing that PRN’s resources and expertise will further fuel its growth.
How to Invest in NovaBay Pharmaceuticals (NBY)
The news of the Avenova sale has likely piqued your interest in investing in NovaBay Pharmaceuticals. If you’re considering buying shares of NBY or even attempting to bet against the company, understanding the process is crucial.
Purchasing shares is typically done through a brokerage account. You can find a list of popular trading platforms online. Many platforms offer the option to buy ‘fractional shares,’ allowing you to own portions of stock without having to buy an entire share. This is especially beneficial for expensive stocks like Berkshire Hathaway or Amazon.com, where a single share can cost thousands of dollars.
Investing against a company, known as short selling, is a more complex process. You’ll need access to an options trading platform or a broker that allows short selling. Shorting involves borrowing shares and selling them immediately, hoping to buy them back at a lower price later. This strategy aims to profit from a decline in the share price.
Another way to bet against a company is through options trading. You can either buy a put option (which gives you the right to sell shares at a specific price) or sell a call option (which obligates you to sell shares at a specific price). Both strategies allow you to profit if the share price drops.
NBY Stock Performance
At the time of writing, NovaBay stock is trading 25.0% higher at 62 cents per share, according to data from Benzinga Pro. This significant rise reflects the market’s positive response to the Avenova sale announcement.
Remember, this information is for general knowledge and informational purposes only, and does not constitute financial advice. It is essential to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
