Why Veea Stock Is Soaring

Veea Inc. VEEA shares are racing higher Wednesday after the company announced a partnership with Crowdkeep to integrate technologies into an AI-enabled solution to track assets, people, and conditions across a variety of use cases.

The Details:

Veea said the newly combined capabilities are offered through an AI-enabled edge computing platform with solutions for construction, education, healthcare, and logistics. Users can maintain visibility on employees, students or guests at a venue, manage and track valuable assets along with visual displays of camera streams, event notifications, utilization rates and footfall analytics with heatmaps.

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Veea's stock is climbing on heavy trading volume with more than five times the average daily volume already changing hands before the opening bell. According to data from Benzinga Pro, Veea shares are trading above the stock’s 50-day moving average of $5.25 and approaching its 52-week high of $10.83. 

How To Buy VEEA Stock:

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

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.

VEEA Price Action: According to Benzinga Pro, Veea shares are up 74.9% at $9.18 at the time of publication Wednesday. 

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Image: Brian Penny from Pixabay