PANW - IronNet jumps 5% despite cyber security stocks pulling back after sharp rally

Cyber security company IronNet (NYSE:IRNT) continued its strong run, gaining another 5% in premarket trading on Friday, one day after it surged 34% amid renewed interest in the sector due to Russia's invasion of Ukraine. Over the past month, IronNet shares have soared nearly 70%. Other cyber security stocks looked to pull back on Friday, however, as companies like Palo Alto Networks (NASDAQ:PANW), Fortinet (NASDAQ:FTNT), Check Point Software (NASDAQ:CHKP) all saw modest declines premarket. Zscaler (NASDAQ:ZS) shares fell sharply on Friday after the company beat fourth-quarter expectations, but issued guidance that fell short of what Wall Street was expecting. IronNet, which went public in August 2021 via a combination with a special acquisition purpose company, recently signed an agreement with Tumim Stone Capital wherein the former has the right to sell to Tumim Stone up to $175 million of its stock.

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IronNet jumps 5% despite cyber security stocks pulling back after sharp rally