Why VOXX International Shares Are Moving Higher Tuesday

Dylan Berman

August 27, 2024

VOXX International Corporation (NASDAQ:VOXX) stock is trading higher Tuesday following the company’s announcement that it is considering a sale.

The Details: On Tuesday morning, the company announced that its board of directors is exploring methods to maximize shareholder value.

The board is evaluating options, including a sale of the company, a sale of segments, operational improvements or other strategic transactions.

In an effort to support this process, the company has formed a strategic transactions committee and retained Solomon Partners as financial advisor and Bryan Cave Leighton Paisner as legal advisor.

There is no guarantee that the company will go through on a sale of the company or any other transaction.

What Else: A Form 4 filed with the SEC indicates that Gentex Corporation (NASDAQ:GNTX) has bought 3,152,000 shares of VOXX at an average price of $5 per share.

How To Buy VOXX International 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 VOXX International (NASDAQ:VOXX)'s case, it is in the Consumer Discretionary 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.

See Also: Rivian Hits Rough Patch: Production Halts, Leadership Shake-Ups Dent Stock

VOXX Price Action: At the time of writing, VOXX International shares are moving 83.9% higher at $5.24, according to data from Benzinga Pro.

Image: 3196481 from Pixabay.

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