Cerberus Cyber Sentinel (NASDAQ:CISO) stock is falling on Wednesday, but that’s not something that should surprise investors.
The drop in price for CISO stock today follows a major rally on Tuesday. That saw the company’s shares jump nearly 68% higher by the end of the day. That also came alongside heavy trading as some 102 million shares changed hands. For the record, Cerberus’ daily average trading volume is about 2.6 million shares.
Yesterday’s stock rally came after the company provided investors with an update on its financial situation. Specifically, the company pointed out that it secured $5 million through a 10% Unsecured Convertible Note sale to Hensley & Company.
Cerberus Cyber Sentinel mentioned that this note sale gave it the funds required to pay back a $5 million 4% promissory note it sold to Bell Bank in June 2022. This new note also has a conversion option that comes in at $1.20 per share.
CISO Stock Movement on Wednesday
Considering the massive rally CISO stock saw yesterday, it makes sense that shares would give up some of their value the following day. As far as trading goes, around 1.3 million shares have changed hands as of this writing.
CISO stock is down 11.7% during pre-market trading on Wednesday!
Investors looking for all of the most recent stock market news will want to stick around!
We’ve got all of the hottest stock market news traders need to know about for Wednesday! A few examples include what has shares of GameStop (NYSE:GME) and Virgin Orbit (NASDAQ:VORB) stock on the rise today, as well as the biggest pre-market stock movers from this morning. You can read up on all of this news at the links below!
More Wednesday Stock Market News
- Why Is GameStop (GME) Stock Up 48% Today?
- Why Is Virgin Orbit (VORB) Stock Up 57% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White 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.
