Oklo, Inc. (NYSE:OKLO) shares are trading lower after the stock began trading on the New York Stock Exchange Friday. Here's a look at what's going on.
The Details:
Oklo completed its business combination with Sam Altman's AltC Acquisition Corp. Friday and announced its newly appointed board of directors with Sam Altman serving as chairman of the board.
Oklo received approximately $306 million of gross transaction proceeds and plans to supply clean, reliable, affordable energy to customers across the artificial intelligence, data center, energy, defense, and industrial markets, among others.
Oklo shares were halted on a circuit-breaker to the downside in early trading, and the ticker is trending across social media. According to data from Benzinga Pro, more than 9.11 million shares have already been traded in the session.
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How To Buy OKLO Stock:
By now you're likely curious about how to participate in the market for Oklo – 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 Oklo, which is trading at $12.76 as of publishing time, $100 would buy you 7.84 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.
OKLO Price Action: According to Benzinga Pro, Oklo shares are down 28.4% at $13.06 at the time of publication Friday.
Image: Courtesy of Oklo, Inc.