Why Digital Brands Group (DBGI) Stock Is Exploding – Digital Brands Group (NASDAQ:DBGI)

Digital Brands Group Inc DBGI Shares were trading 287% higher at $11.09 Tuesday morning. The company on Tuesday reaffirmed its guidance for fiscal 2024, forecasting revenue of $27 million to $30 million, internal cash flow of $6 million to $7 million and EBITDA of 1.5 to 2.0 Millions of dollars.

The company also announced no stock offerings for 2024 and a reduction in operating costs of $1 million. CEO Hil Davis expressed commitment to shareholder growth, highlighting the company’s exploration of strategic alternatives to maximize shareholder value given its business and operating forecasts relative to market value.

See also: Sam Altman’s $7 trillion AI dream: Visionary or a step too far?

How to buy DBGI shares

At this point you’re probably curious about how to participate in the Digital Brands Group market, either by purchasing shares or by attempting to bet against the company.

Purchasing stocks is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to purchase “fractional shares,” which allow you to own portions of shares without purchasing an entire share. For example, some stocks, like Berkshire Hathaway or Amazon.com, can cost thousands of dollars to own just one. However, if you only want to invest a fraction of that sum, brokers will allow you to do so.

In the case of Digital Brands Group, which is trading at $6.52 at the time of publication, $100 would buy you 15.34 shares.

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 will allow you to “go short” a share of stock by lending you the shares to sell. The process of short selling a stock can be found on this resource. Otherwise, if your broker allows you to trade options, you can buy a put option or sell a call option at a strike price higher than where the stock is currently trading – either way it allows you to profit from the drop of the share price.

According to data from Benzinga Pro, DBGI has a 52-week high of $61.02 and a 52-week low of $2.30.

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