Figma Shares Indicated To Open $105/$110
SCOTTSDALE, Ariz. – CISO Global, Inc. (NASDAQ: CISO), a company specializing in AI-powered cybersecurity software, managed cybersecurity, and compliance, has addressed concerns regarding the recent erratic movements in its stock price. The company’s shares have plunged nearly 58% in the past week alone, with its market capitalization now standing at just $5.67 million. According to InvestingPro data, the stock is currently trading in oversold territory based on technical indicators. The company has confirmed that the volatility experienced this week is not attributed to insider selling, as no executives or board members have engaged in stock sales during the period of unusual trading activity.
Furthermore, CISO Global has not activated its at-the-market (ATM) offering in 2025, which could have otherwise contributed to the stock’s fluctuation. Despite a series of developments that the company perceived as positive, such as partnerships with Microsoft and AWS, the introduction of its EDGE security platform, and the deployment of its Skanda analysis tool, CISO’s shares have faced significant selling pressure. The company’s stock has declined over 86% year-to-date, while InvestingPro analysis suggests the stock is currently undervalued relative to its Fair Value. Subscribers to InvestingPro can access 15+ additional investment insights about CISO Global.
The company’s CEO & Chairman, David Jemmett, has suggested that the decline in stock price may be the result of market makers engaging in manipulative trading practices, including naked short selling. Naked short selling involves selling shares that have not been borrowed or owned, potentially creating an artificial supply that distorts market prices and misleads investors. This could have a more pronounced impact on CISO Global due to its closely held status and limited float.
Jemmett expressed confidence in the company’s direction, emphasizing the commitment of leadership and stakeholders to CISO’s future and the belief in the company’s potential for long-term growth and innovation.
CISO Global has previously reported observed trading anomalies and activities to State and Federal regulators. The company aims to protect organizations from cyber threats through its comprehensive solutions, leveraging advanced technology and expertise in the field.
While CISO Global considers itself a leader in the cybersecurity industry, the forward-looking statements in its press release are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These statements are based on current beliefs and are not guarantees of future performance. Financial metrics from InvestingPro highlight some challenges, including a significant debt burden with a debt-to-equity ratio of 4.13 and weak gross profit margins of 13%. The company’s overall financial health score is currently rated as weak, though revenue grew by 35% in the last twelve months.
This article is based on a press release statement from CISO Global, Inc.
In other recent news, CISO Global, Inc. has launched its new AI-driven cloud security solution, CISO Edge, aimed at bolstering protection against advanced cyber threats. This product is valued at $30 million and is part of the company’s broader $50 million cybersecurity suite. Additionally, CISO Global is advancing its AI-powered security within Microsoft Azure and Amazon AWS ecosystems, enhancing asset management and threat detection capabilities through successful integrations. The company’s TIGRIS GRC solution is now available on the AWS Marketplace, providing users with essential security solutions to improve cloud security posture and compliance.
Meanwhile, CISO Global is facing a potential delisting from Nasdaq for not holding an annual shareholder meeting within the stipulated timeframe. The company has 45 days to submit a compliance plan, with a possible extension until June 30, 2025, if accepted. In a related development, significant changes have been made to the Board of Directors, with new members appointed following an agreement with certain investors. These changes coincide with meeting conditions in a Securities Purchase Agreement, including a $4 million gross proceeds milestone.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.