Cybersecurity Stock IronNet Is Surging 110%. It Could Be the Next Meme Stock.

2 weeks ago 5
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Updated Sept. 7, 2021 8:23 americium ET / Original Sept. 7, 2021 6:41 americium ET

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IronNet has sparked involvement connected Reddit and Twitter successful caller days.

AFP via Getty Images

Shares of cybersecurity institution IronNet surged much than 110% successful premarket trading aboriginal connected Tuesday.

The banal has been the taxable of a number of discussions connected Reddit successful caller days arsenic a imaginable campaigner for a ‘gamma squeeze’—buying bullish options to make much buying pressure, as seen with movie-theater concatenation AMC Entertainment (ticker: AMC) and videogame retailer GameStop (GME).

IronNet (IRNT) shares roseate 23% connected Friday and were 115% higher successful premarket trading astatine 1 constituent aboriginal connected Tuesday.

The cybersecurity institution merged with special-purpose acquisition institution LGL Systems Acquisition Corp astatine the extremity of past month. The banal had surged adjacent to 30% connected the combined company’s trading debut connected the New York Stock Exchange—trading was paused astatine 1 constituent owed to volatility—before slipping backmost to adjacent somewhat lower.

Write to Callum Keown astatine callum.keown@dowjones.com

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