Zoomcar Holdings, Inc. ( ZCAR ) shares are trading higher Wednesday after the company said it expects an increase in its fiscal year total revenue and decline in its net loss.

The Details:

Zoomcar ( ZCAR ) stated in an SEC filing that it expects to report an increase in total revenue in the fiscal year ended 2024 of approximately $1.2 million, from $8.6 million in 2023 to $9.8 million in 2024. Zoomcar ( ZCAR ) said increase in total revenue is due to its prioritization of higher duration per trip bookings to seek to maximize revenue, combined with a reduction in incentive payments due to company hosts by converting to a direct settlement process.

Further, Zoomcar ( ZCAR ) expects to report a significant decline in net loss in the fiscal year ended 2024 of approximately $28 million, from $62 million in 2023 to $34 million in 2024. The company said the  primary reason for the decrease in net loss is reduced operating costs over the 2024 fiscal year driven by overall efforts to achieve enhanced operational and service delivery efficiency beginning in January 2023.

Read Next: What Happened With Advanced Micro Devices Stock Today?

Key drivers of the cost savings include reduction in personnel costs, closure of certain of its subsidiaries operations, workforce optimization and cost rationalization for its India based call centers.

According to data from  Benzinga Pro, Zoomcar ( ZCAR ) shares are moving on heavy trading volume Wednesday with more than 81 million shares changing hands before the opening bell. 

How To Buy ZCAR Stock:

By now you're likely curious about how to participate in the market for Zoomcar Holdings ( ZCAR ) – 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 Zoomcar ( ZCAR ), which is trading at $0.14 as of publishing time, $100 would buy you 714.29 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.

ZCAR Price Action: According to Benzinga Pro, Zoomcar Holdings ( ZCAR ) shares are up 49% at 20 cents at the time of publication Wednesday.

Read Also: 

What’s Going On With ChargePoint Stock?

Image: from Moondance from Pixabay