KNBE - KnowBe4 stock rallies to all-time high following rival Proofpoint's $13.2B take-out deal

Cybersecurity firm KnowBe4 (KNBE) rallied to an all-time intraday high Tuesday, one day after rival Proofpoint (PFPT) popped 31% on a $13.2B take-private deal and less than a week after KNBE itself rose more than 50% following an IPO.KnowBe4 stock soared to as high as $26.98 Tuesday, up 17.2% on the session and 68.6% from last week’s $16 initial public offering price.Although KNBE later pulled back some, it was still changing hands at $25.94 shortly before noon ET Tuesday, up 12.7% on the day and 62.1% from the IPO price.Tuesday’s rally came one day after KnowBe4 competitor Proofpoint rocketed 31.1% higher on word that private-equity firm Thoma Bravo plans to acquire the PFPT.KNBE had also announced Monday that underwriters had exercised their full IPO overallotment option for 1.425M shares of the company’s stock.KnowBe4’s strong Tuesday rally reversed a 4.6% two-session pullback that had followed strong gains the company saw on

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KnowBe4 stock rallies to all-time high following rival Proofpoint’s $13.2B take-out deal