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How to buy Lexaria Bioscience Corp (LEXX) stock when it goes public

Here's everything we know so far about the Lexaria Bioscience Corp IPO.

Dawn Daniels
Dawn Daniels

Updated

Fact checked

Lexaria Bioscience, a Kelowna, Canada-based company that is developing a COVID-19 vaccine, is seeking a listing on the Nasdaq. The company is currently listed on the Over-the-Counter Markets under the ticker "LXRP," as well as the Canadian Securities Exchange under the ticker symbol "LXX."

What we know about the Lexaria Bioscience Corp IPO

Lexaria Bioscience Corp filed a draft registration with the US Securities and Exchange Commission under the ticker symbol LEXX. Not yet an official IPO, it's one of the first steps of taking a private company public.

There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available. The shares will be available on the Nasdaq Capital Market.

How to buy shares in Lexaria Bioscience Corp when it goes public

Once Lexaria Bioscience Corp goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Lexaria Bioscience Corp. Find the stock by name or ticker symbol: LEXX. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Lexaria Bioscience Corp reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of Lexaria Bioscience Corp, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Lexaria Bioscience Corp. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Lexaria Bioscience Corp can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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