Why Israel-Based Hub Cyber Security's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Shares of Hub Cyber Security Ltd (NASDAQ:HUBC) surged approximately 30% following the announcement of an expanded collaboration with Blackswan Technologies Ltd. The partnership focuses on providing Confidential Computing cybersecurity solutions to protect critical data in the financial sector. The deal, which includes a three-year term with a possible two-year extension, is expected to generate over $25 million in revenue for HUB within the next 18 months. The company's CSO, Noah Hershcovitz, highlighted the potential for increased customer pipeline in banking and investment sectors.

December 01, 2023 | 5:15 pm
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Hub Cyber Security's stock price soared after announcing an expanded collaboration with Blackswan Technologies to provide cybersecurity solutions, with expected revenue exceeding $25 million in 18 months.
The significant increase in HUBC's stock price is directly related to the announcement of the expanded partnership with Blackswan Technologies, which is expected to substantially boost the company's revenue and customer base. The financial terms and the strategic importance of the deal in the cybersecurity sector contribute to the positive outlook for HUBC's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100