Shares of Odyssey Marine Exploration Inc (NASDAQ:OMEX) soared 112% to 90 cents during Thursday’s session following a Reuters report that President Donald Trump is expected to sign an executive order aimed at jumpstarting the U.S. deep-sea mining industry.
What To Know: The order would allow U.S. companies to bypass the United Nations-backed International Seabed Authority and instead seek permits through the Department of Commerce's NOAA, dramatically reducing regulatory barriers, per Reuters.
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Odyssey Marine, a Tampa-based firm specializing in seafloor mineral exploration, is one of the few publicly traded companies with proven expertise and proprietary technology in deep-ocean mining.
Reuters notes the executive order, if signed, would represent a seismic shift in the regulatory environment, potentially unlocking billions in untapped mineral reserves containing nickel, copper and rare earth elements vital to the tech and defense sectors.
Investors could see the policy change as a green light for Odyssey to advance stalled projects, such as its Mexican phosphate and South Pacific exploration assets, sending its stock sharply higher.
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How To Buy OMEX Stock
By now you're likely curious about how to participate in the market for Odyssey Marine – 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.
In the case of Odyssey Marine, which is trading at $0.9 as of publishing time, $100 would buy you 111.11 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.
According to data from Benzinga Pro, OMEX has a 52-week high of $5.57 and a 52-week low of $0.27.
