American Rebel (NASDAQ:AREB) stock is soaring higher on Tuesday as investors react to its recent initial public offering (IPO) on the Nasdaq Exchange.
Let’s dive into that news below to see why traders are sending AREB stock higher today!
- American Rebel is “a designer and marketer of branded safes and personal security and self-defense products.”
- It designs and creates branded apparel and accessories as well.
- The company’s stock uplisted to the Nasdaq yesterday after trading on the OTC Market.
- This uplisting saw the company going through a public underwritten offering.
- That included 2,530,121 units at a price of $4.15 each for total aggregate proceeds of roughly $10.5 million.
- Each of the units is made up of one share of AREB stock and one warrant.
- The warrants can be traded for one share of AREB stock at a price of $5.1875 per share.
- Investors can immediately redeem the warrants and they expire in five years.
- The company originally started with a focus on concealed carry weapon accessories.
- However, over time it also expanded into other products, which includes its gun safe business.
- While new to the market, AREB stock is already seeing a good amount of trading today.
- As of this writing, more than 15 million shares of the stock have changed hands.
- That’s a massive jump from its daily average trading volume of about 16,000 shares.
AREB stock is up 47.1% as of Tuesday afternoon.
Investors looking for more stock market news today are in the right place!
We’ve got all the latest stock news that traders need to know about for Tuesday. That includes what to know about Society Pass (NASDAQ:SOPA) stock today, details on Valkyrie Capital Bitcoin Miners ETF (NASDAQ:WGMI), as well as the latest news moving Peloton (NASDAQ:PTON) stock today. You can find all of that at the following links!
More Stock Market News for Tuesday
- SOPA Stock: 6 Things to Know About E-Commerce Play Society Pass as Short Squeeze Sends It Soaring
- WGMI ETF: 7 Things to Know as the Valkyrie Bitcoin Miners ETF Starts Trading Today
- Peloton Layoffs 2022: 7 Things to Know About the News Moving PTON Stock Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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