Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

After-Hours Action: Why Cyren Stock Is Surging

Published 07/06/2022, 21:53
Updated 07/06/2022, 22:40
© Reuters.  After-Hours Action: Why Cyren Stock Is Surging
CYRNQ
-

CYREN Ltd (NASDAQ: CYRN) shares are trading higher in Tuesday's after-hours session after the company entered into an agreement with Content Services Group to sell all equity interests in its legacy secure email gateway business for 10 million euros in cash.

Cyren said the divestment will enable the company to focus on its best strategic growth opportunities.

The company will use the proceeds to expand go-to-market activities relating to its anti-phishing solution, Cyren inbox security, and its core threat intelligence services. The transaction is expected to close prior to Aug. 31.

Cyren is a provider of inbox security and threat intelligence solutions.

See Also: Microsoft (NASDAQ:MSFT) Is Pushing DocuSign Stock Higher After Hours: Here's Why

CYRN Price Action: Cyren shares have traded between 18 cents and $13.87 over a 52-week period.

The stock was up 36.5% in after hours at $2.43 at press time, according to data from Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.