One of the biggest movers to the downside in today’s market is HUB Cyber Security (NASDAQ:HUBC). Shares of HUBC stock are down more than 14% at the time of this writing. In fact, they even fell approximately 20% at today’s lows.
This move comes on little news. However, it does continue the stock’s trend of trading in a highly volatile fashion throughout the year.
Since going public via a special purpose acquisition company (SPAC) merger at the end of February, shares of HUBC have been hit hard. This stock, which previously traded above its $10 reference price, moved as low as $1.76 in today’s session. While HUBC stock is trading off its lows in early afternoon trading (shares have traded as low as $1.10 this year), that’s still not a good sign for investors in this early-stage company.
Let’s dive into what investors should know about HUB Cyber Security and why March 28 is a date to watch for.
HUBC Stock in Focus as Key Date Approaches
This volatile price action today comes despite an upcoming catalyst that many investors have their eye on. Today, the company announced that it will host an online investor event on March 28. At this event, investors will be updated on the HUB’s strategic plans and progress.
This announcement follows news yesterday that former Department of Defense Deputy Secretary John C. Rogers will be joining HUB’s security advisory board.
HUB’s specialization in cybersecurity solutions for commercial and government agencies is certainly intriguing to many investors. However, without a roadmap for how it intends to become the profit machine that many hope, there’s clearly demand for more information from the company. In many respects, this investor day may provide HUBC stock investors with exactly what they’re looking for.
That said, as with most early-stage de-SPAC companies, HUBC remains a higher-risk bet in this volatile market. As such, the movement of shares may reflect investor sentiment to a greater degree than other pockets of the market.
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On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
