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HUB Cyber Security (NASDAQ:HUBC) stock rebounded 31% midday Friday after dropping two days in a row following the Israeli company’s merger with SPAC Mountain Rainier Acquisition Corp.
Shares of the cyber security services company opened at $1.64, reaching an early low of $1.54 before jumping to a high of $1.97 in late morning. The stock recently changed hands at $1.64 at approximately 12:25 p.m. ET.
The company did not appear to release any news or make any SEC filings on Friday.
HUB shares made their debut on Wednesday, ending their first session down 68% from their pre-merger close of $4.99. The stock fell an additional 21% on Thursday.
HUB and Mount Rainier announced plans to merge in March 2022, with the deal valuing the combined company at around $1.2B.
