Shares of AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) are trading sharply higher on Monday following the company’s announcement to rebrand as AVAX One, the first publicly-traded, Avalanche (CRYPTO: AVAX) focused company on the Nasdaq.
What To Know: AgriForce plans to raise approximately $550 million through this new venture, which is dedicated to maximizing ownership of AVAX, the native token of the Avalanche network.
The company stated that the goal of its capital raising strategy is to acquire more than $700 million worth of AVAX tokens. The capital raise is led by Hivemind Capital, with participation from over 50 institutional and crypto-native investors.
The advisory board will be led by Anthony Scaramucci, Founder of SkyBridge Capital.
Technical Momentum: AGRI has exhibited strong price momentum Monday with a daily change of 150.62%, indicating significant bullish activity. The current price of $6.04 is above the 50-day moving average of $3.73, suggesting a potential upward trend. Immediate resistance can be observed near the intraday high of $8.99, while support may be found around the low of $5.94.
Volume & Intraday: The trading volume of 94,823,861 significantly exceeds the average volume of 520,343, indicating heightened investor interest and activity. The intraday range, with a low of $5.94 and a high of $8.99, reflects substantial volatility, which may attract further trading opportunities as the session progresses.
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How To Buy AGRI Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in AgriFORCE Growing Systems’ case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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