What's going on with Bright Minds Biosciences stock on Friday? – Bright Minds Biosciences (NASDAQ:DRUG)

Bright Minds Biosciences Inc. DRUG Stocks are rising on Friday. The company announced a $35 million non-brokered private placement.

The details: The price of each share in the private placement is $21.70, while pre-funded warrants are available at a price of $21.69 each. Pre-funded warrants can be converted into shares at the investor's convenience or within five years from the closing date.

The Company plans to use the gross proceeds from this private placement for general working capital and research and development related to its drug development programs.

Bright Minds stock is up more than 100% and is trading at above-average trading volume on Friday. The stock has had an average session volume of 2.22 Million over the last 100 days but is currently trading at a session volume of 10.62 Million.

How to buy Bright Minds Biosciences stock

By now, you're probably curious about how you can participate in the Bright Minds Biosciences market – whether by buying shares or even trying to bet against the company.

Buying stocks is usually done through a brokerage account. You can find a list of possible trading platforms here. Many offer you the option to buy fractional shares, allowing you to own shares of stock without having to purchase a whole share. For example, owning some stocks like Berkshire Hathaway can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, you can do so with brokers.

If you want to bet against a company, the process is more complex. You will need access to an options trading platform or a broker that allows you to short a stock by lending you the shares to sell. The process of short selling a stock can be found in 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 that is higher than the current stock price – either way, you can benefit from the decline in the stock price.

Related link: MicroStrategy CEO Michael Saylor provokes Bitcoin doubters and urges them to short company shares: “I want you to love us if you really hate BTC.”

Drug price development: Bright Minds shares are trading 153.5% higher at $55.01 on Friday morning, according to data from Benzinga Pro.

Image: Image: Akava Photo from Pixabay