Why Is Hub Cyber Security (HUBC) Stock Up 35% Today?
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Hub Cyber Security (NASDAQ:HUBC) stock is taking off on Monday alongside heavy pre-market trading of the Israel-based cyber security solutions company’s shares.
This heavy trading has more than 11 million shares of HUBC stock changing hands as of this writing. That’s already well above its daily average trading volume of about 3.2 million shares.
It’s worth mentioning that stocks out of Israel are incredibly volatile this morning. That comes after an attack was launched on the country by Iran. This could continue to see HUBC stock rise or fall alongside developing news.
Another thing that investors will keep in mind is that HUBC is a penny stock. This comes from its low market capitalization of just $12.777 million shares and prior closing price of $1.30 per share.
What This Means for HUBC Stock
Being a penny stock opens Hub Cyber Security up to certain vulnerabilities. That includes volatility from heavy trading. This is often the result of speculative traders or those trying to pump and dump a company’s shares.
It’s unclear if this is why HUBC stock is up today but it may be a contributing factor. Investors will also want to keep an eye on the Middle East when considering investments in Hub Cyber Security.
HUBC stock is up 35.4% as of Monday morning.
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On the date of publication, William White did not have (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.
