Hub Cyber Security (NASDAQ:HUBC) stock is falling on Thursday after updating investors on a shareholder’s stake in the cybersecurity solutions company.
The big news here is Dominion Holdings adjusting the number of HUBC shares that it owns. The company sold 390,672 shares of HUBC stock from March 20 to April 1 for between about 84 cents and $1.03 apiece.
In addition to that, DC Rainer — which is managed by Dominion Holdings — transferred 27,135 shares of HUBC stock to an individual member of the business. This leaves the company’s stake in Hub Cyber sitting at just 0.4%.
Dominion Holdings sold the shares of HUBC stock as it starts insolvency proceedings. The company alerted the Tel Aviv District Court of this action and notes its due to failure to repay debts.
How This Affects HUBC Stock
The sale of HUBC shares and the loss of a large investor in the company comes as a blow to its stock. This has shares falling 7.4% as of Thursday morning.
With that drop comes roughly 730,000 shares of HUBC stock changing hands. That’s still below its daily average trading volume of about 2.7 million shares.
Investors who are seeking out even more of the most recent stock market stories will want to stick around!
We are offering up insight into all of the hottest stock market news worth reading about on Thursday! That includes everything happening with shares of Aptevo Therapeutics (NASDAQ:APVO) stock, Rent the Runway (NASDAQ:RENT) stock and Rallybio (NASDAQ:RLYB) stock. You can find out more on these matters at the following links!
More Stock Market News for Thursday
- Why Is Aptevo Therapeutics (APVO) Stock Down 56% Today?
- Why Is Rent the Runway (RENT) Stock Up 30% Today?
- Why Is Rallybio (RLYB) Stock Up 93% Today?
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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.
