XBP Europe Holdings Inc ( XBP ) shares are trading higher by 58% to $2.07 during Thursday’s session after the company announced it was awarded a $40 million multi-year contract for a nationwide transformation project for His Majesty’s Passport Office.

XBP says the initiative aims to digitize historical documents dating back to 1837 for the General Register Office (GRO) in the United Kingdom. XBP plans to utilize its AI-led IDP platform and Global Centre of Excellence to address these challenges and facilitate the digitization process.

CEO Andrej Jonovic expressed XBP Europe’s commitment to supporting HMPO’s objectives and transformation delivery program. The project is scheduled to be operational by summer 2024, providing cloud-based solutions while ensuring data residency in the UK.

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How To Buy XBP Stock

By now you're likely curious about how to participate in the market for XBP Europe ( XBP ) – 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 XBP Europe ( XBP ), which is trading at $2.4 as of publishing time, $100 would buy you 41.67 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, XBP has a 52-week high of $47.40 and a 52-week low of $1.14.