What's Going On With Koss Stock?
Koss Corporation (NASDAQ:KOSS) shares are trading higher Friday on continued interest from retail investors. Here's a look at what's going on.
What To Know:
Koss shares rocketed more than 250% Wednesday as retail investors circulated a social media post speculating on a possible connection between GameStop Corporation (NYSE:GME), Chewy, Inc. (NYSE:CHWY) and Koss. The post attempts to extract a pattern from a series of emojis posted by Roaring Kitty, and some investors speculate that Koss may be the next stock Roaring Kitty will target based on his emojis.
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Koss shares are moving on heavy trading volume again Friday, and the stock was halted for volatility shortly after the opening bell. Nearly 8% of available Koss shares are being sold short, according to the latest data from Benzinga Pro, which can contribute to large price movements when combined with heavy trading volume.
Koss also has a low float of just over 5 million shares and more than 28.5 million shares have already been traded in Friday's session.
How To Buy KOSS Stock:
By now you're likely curious about how to participate in the market for Koss – 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 Koss, which is trading at $16.84 as of publishing time, $100 would buy you 5.94 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.
KOSS Price Action: According to Benzinga Pro, Koss Corporation shares are up 48.5% at $15.78 at the time of publication Friday.
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Image: NikolayF from Pixabay