- Red hot cybersecurity play sells off in anticipation of tens of millions of shares hitting the market after the recent S-1 registration statement has been declared effective by the SEC.
- Management reiterated full-year guidance despite very weak H1/FY2022 results thus setting up the company for a potentially sizeable earnings miss.
- Discussing recent SPAC deal and Q2 earnings release.
- Given the sizeable free float increase, the company will no longer be an easy target for the momentum crowd.
- After a 70% drop from recent highs and with most of the newly registered shares still subject to lock-up agreements, speculative investors might consider a rebound trade while long-term investors should remain on the sidelines for now.
For further details see:
IronNet: Not Impressed By Recent SPAC Deal But Selloff Provides Potential Rebound Trade Opportunity