Stock for Cyren Ltd. (NASDAQ: CYRN) pushed on with its growth momentum for the day into the aftermarket session. This amounted to 6.7% and 9.1% respectively. Nearly a year of a bearish descent, CYRN saw bounce-back and persistent growth initiated nearly a month ago, in February. Moreover, as a low-priced stock, social media hype saw CYRN ballooning 3.7 times its price during the 2-week window. The Israeli cyber-security stock has been one of the big winners amidst the broader geopolitical chaos, along with defense stocks.
Cyber-Security Attacks in Israel and Beyond
One reason as to the surge in popularity of cybersecurity stocks has been the surge in attacks in recent years. Monday saw one of the most significant cyber-attacks in Israel traced back to Iran. The wide-scale attack was later identified as a DDoS attack, resulting in a number of government websites going offline. This came a year after Israel confirmed a cyber-attack it had carried out against Iran’s Fordow nuclear facility.
Similarly, with the crisis in Ukraine, and Russia’s well-known expertise in the cyber-attack realm, similar occurrences are likely to occur. In fact, the frequency with which these are to take place is likely to see a climb moving forward. With sanctions leveled against the country, Russian-led cyberattacks are likely to intensify against the US and European allies. This context creates a broader environment where cybersecurity stocks like CYRN see a newfound value. Therefore, it comes as no surprise that with this surge in demand, the stock price has followed suite.
CYRN: An Ideal Option
Given the present circumstances, CYRN seems like an optimal stock for investors seeking opportunities in this cybersecurity demand surge. Being an established company with a strong liquidity position, Cyren Ltd stands well suited to lead the market in emerging times. Its robust strategic partnerships with key players in the industry make it well suited to realize synergistic benefits, innovation potential as well as expansive growth. Moreover, the surge in frenzy surrounding CYRN traces back a social media hype, where big influencers had participated. Influencers like Timothy Sykes, as well as credible market scanners such as @GetScanz touted the potential of CYRN.
Conclusion
Amidst geopolitical tensions, cybersecurity stocks like CYRN are proving to be big winners. Amidst recent attacks in Israel and potential cyber retaliation by Russia, cybersecurity stocks are seeing a surge in demand. CYRN is positioned as an ideal stock in this context, with large social media influencers driving up this frenzy
