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- Meme stock IronNet (NYSE:IRNT) surged more than 9% Tuesday on higher-than-usual volume, yet no notable news from the provider of network traffic analysis technology.
- In late trading, IronNet's (IRNT) shares had risen to $11 a piece, with 5.4 million shares trading hands. The company averages about 5.5 million shares exchanged on a typical trading day.
- While IronNet (IRNT) shares flexed their muscles Tuesday, the advance should be put into a bit of perspective. The company's stock is notorious for being manipulated by short squeezers, and in September, reached a 52-week-high of $47.50 shortly after its third-quarter earnings report.
- Last month, IronNet (IRNT) reported solid quarterly results, including a gain in subscription revenue, its largest source of sales.