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

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Updated Sept. 7, 2021 7:48 americium ET / Original Sept. 7, 2021 6:41 americium ET

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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 and videogame retailer GameStop.

IronNet 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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