On March 21, shares of SuperCom Ltd. (SPCB) continued to rise in the after-hours while there was no news from the company. After battling with a sell-off earlier, SPCB stock had been on a bullish roll as of recently. The latest news from the company dates back to March 09, while the most recent SEC filing from the company was on March 3, 2022.
SPCB stock remained bullish during the regular trading session on Monday with a gain of 25.73%. At the close of the session, the stock had a value of $0.6915 per share while the volume of shares exchanged remained above the average at 19.02 million. The stock continued its uptrend into the following after-hours session with a further gain of 15.69%. Thus, SPCB was trading at $0.8000 apiece in the after-hours while 6.11 million shares exchanged hands.
The cybersecurity and identity solutions provider, SuperCom Ltd. was founded in 1988. Currently, the company had a market capitalization of $17.25 million.
What is Happening with SPCB?
Lately, most cybersecurity stocks have been very volatile due to the Russia-Ukraine conflict. Cyberattacks being an active tool of warfare and invasions, the conflict has cybersecurity stock on the watch list of investors. As the conflict escalated in the recent weeks, cybersecurity stocks continued to gain attention amid the frenzy in the market. But in the first half of March, SPCB has had a bearish sentiment despite the company’s launch of a new version of its cybersecurity software on March 09. After having a period of mild activity till March 16, the stock started gaining momentum on March 17. Since then, the stock has enjoyed a good bullish sentiment with gains followed by gains. Given that there is no news from the company, the stock seems to be gaining on external factors.
Latest Company News
On March 9, the company announced the planned launch of a new version of cybersecurity software technology y its cyber security division. The new version is robust, scalable, and provides enhanced protection from cyber-attacks. SPCB’s cyber security division includes its subsidiaries Safend and Prevision, which has been aiding governments and enterprises with cybersecurity and cyber defense strategies for more than 15 years.
On February 25, the company announced entering into a registered direct offering of $4.7 million ordinary shares and warrants in a concurrent private placement, with an institutional investor. Moreover, the offering was expected to close near March 1, 2022.
