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Why TTEC Holdings Shares Are Up 30% Today
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Why TTEC Holdings Shares Are Up 30% Today
Oct 2, 2024 11:33 PM

TTEC Holdings Inc ( TTEC ) shares are trading higher by 30.9% to $5.30 during Monday’s session after the company’s CEO proposed to take the company private at $6.85 per share.

What Investors Need To Know: CEO Kenneth Tuchman, who already owns about 58% of TTEC’s stock, offered $6.85 per share to acquire the remaining shares, representing a 55% premium on the company’s recent stock price.

The company’s Board of Directors has formed a Special Committee of independent directors to review the proposal. The transaction is contingent upon financing, further negotiation, and approval by shareholders not affiliated with Tuchman.

Per a press release by TTEC ( TTEC ) Monday morning, there’s no certainty the proposal will be accepted.

Read Also: Fed Chair Jerome Powell Set To Speak As Economists Raise Concerns Over Risks Arising From Potential Policy Missteps And 2024 Election

How To Buy TTEC Stock

By now you're likely curious about how to participate in the market for TTEC Holdings ( TTEC ) – 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. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of TTEC Holdings ( TTEC ), which is trading at $5.57 as of publishing time, $100 would buy you 17.95 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, TTEC ( TTEC ) has a 52-week high of $28.38 and a 52-week low of $3.67.

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