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Shares of E.W. Scripps Company (NASDAQ:SSP) are rising after another media company took a significant stake in the broadcast station company.
What To Know: Sinclair, which owns almost 300 television stations, disclosed an 8.2% stake in E.W. Scripps in a regulatory filing with the SEC. The company said in the filing that it has engaged in constructive conversations regarding a potential deal with E.W. Scripps.
E.W. Scripps stock was up more than 30% following the news, according to Benzinga Pro.
Scripps’ board said in a statement that the company is focused on driving value for all of its shareholders through the continued execution of its strategic plan. The company noted that it will evaluate any potential transactions.
By now you're likely curious about how to participate in the market for E W Scripps – 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.
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.
SSP Price Action: E.W. Scripps’ shares were up 33.01% at $4.07 at the time of publication on Monday, according to Benzinga Pro.
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Posted In: SSP
