Hub Cyber Security (NASDAQ:HUBC) stock is on the rise shortly after the company went public through a special purpose acquisition company (SPAC) merger with Mount Rainier Acquisition Corp.
That merger took place on Wednesday and saw the company’s shares change over to the new HUBC stock ticker. However, the company didn’t go public without its own drama, as certain issues caused the stock to fall with its debut.
That negative momentum continued into Thursday as shares saw a 21.4% decline in normal trading hours on Thursday. That came alongside more than 11 million shares changing hands.
Now, it seems like shares of HUBC stock are finally done falling as they rally this morning. The company’s shares are climbing 62.4% in pre-market trading on Friday. That comes as 10 million shares of the stock change hands.
What Is Hub Cyber Security?
Hub Cyber Security is a cybersecurity company that’s targeting a different form of data protection. The company seeks to protect data when it’s in use, rather than just in storage or in transit. The company seeks commercial customers as well as contracts with large businesses and governments for cloud data protection.
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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.