Auddia Inc. (NASDAQ:AUUD) shares are trading higher Monday after the company announced the United States Patent and Trademark Office (USTPO) awarded the company a patent.
The Details:
Auddia announced the USPTO has awarded U.S. Patent 11,935,520 for the core AI technology Auddia uses in its flagship faidr app to deliver ad-free AM/FM radio stations to paid subscribers.
“Although we have believed we were leading the AI space with important and patentable technology when we began the process of training our algorithm to deliver a premium ad-free AM/FM listening experience, there is a big difference between filing a patent application and having the application approved,” said Jeff Thramann, Executive Chairman of Auddia.Â
“Issuance of this patent validates our innovation and secures our AI for Audio technology as a proprietary platform we look forward to building upon to drive new innovations in support of additional industry first premium audio listening experiences,” added Thramann.
Auddia shares are blasting higher on heavy trading volume following the announcement. According to Benzinga Pro, more than 86.5 million shares have already been traded in the session, far exceeding the stock’s 100-day average volume of 382,501 shares.
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How To Buy AUUD Stock:
By now you’re likely curious about how to participate in the market for Auddia – 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 Auddia, which is trading at $4.79 as of publishing time, $100 would buy you 20.88 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.
AUUD Price Action: According to Benzinga Pro, Auddia shares are up 228% at $4.70 at the time of publication Monday.
Image: Pete Linforth from Pixabay
