2022 has been quite the ride for Hub Security (TASE: HUB). In late January, the company announced its intention to pursue a NASDAQ listing via an unnamed SPAC merger. Further details were released on March 23rd, when HUB announced a definitive SPAC merger with RNER for a Q2/3 '22 listing on NASDAQ at a $1.3B valuation. Significantly, this market cap represents a significant valuation multiplier for existing HUB.TA shareholders, presenting a unique opportunity for significant upside for LT investors and stakeholders. After posting nearly 100% share price increase YTD, following the SPAC merger announcement HUB share value tanked, bottoming out late-March after backtracking most YTD gains. That said, in the weeks since the stock is slowly re-accruing value as some of the initial hype is fading away, signaling the re-entry of LT investors after traders/ST-holders panic-sold in March.
In sum, HUB.TA +26% YTD, meaning that it has far outperformed multiple benchmarks such as the TA90 (+3.39%), QQQ (-17.16%) and the CIBR ETF (-4.7%). As NASDAQ and really the global tech market as a whole have taken a beating, HUB continues to perform strongly and regain lost ground as it braces for its highly-anticipated NASDAQ listing. To date, price action is flirting with the 10-day MA, meaning the free-fall of end-Q1 has all about stopped. Furthermore, RSI has been moving steadily through slightly undervalued territory, meaning that now HUB share price is more fairly priced by the market compared to the burst of volatility in late-March. All tentatively bullish signs that this confidential computing disruptor is re-establishing its footing after a bump in the road as it braces to make a splash on the US cybersecurity/tech investment space.
In sum, HUB.TA +26% YTD, meaning that it has far outperformed multiple benchmarks such as the TA90 (+3.39%), QQQ (-17.16%) and the CIBR ETF (-4.7%). As NASDAQ and really the global tech market as a whole have taken a beating, HUB continues to perform strongly and regain lost ground as it braces for its highly-anticipated NASDAQ listing. To date, price action is flirting with the 10-day MA, meaning the free-fall of end-Q1 has all about stopped. Furthermore, RSI has been moving steadily through slightly undervalued territory, meaning that now HUB share price is more fairly priced by the market compared to the burst of volatility in late-March. All tentatively bullish signs that this confidential computing disruptor is re-establishing its footing after a bump in the road as it braces to make a splash on the US cybersecurity/tech investment space.