IRNT - 5 Red Flags for IronNet's Future
Last August, cybersecurity company IronNet (NYSE: IRNT) went public by merging with a SPAC (special purpose acquisition company). It initially attracted a lot of attention because its founder and co-CEO is Gen. Keith Alexander, a retired four-star general who previously led the National Security Agency (NSA), the Central Security Service (CSS), and the U.S. Cyber Command.
IronNet's stock started trading at $13.44 after the merger and surged to an all-time high of $41.40 last September, but now trades barely above the $1 mark. To understand why IronNet's stock collapsed, let's review five bright red flags.
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5 Red Flags for IronNet's Future