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IronNet Stock Rises After Joining Microsoft Intelligent Security Association

Stock MarketsOct 28, 2021 04:16
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© Reuters.

By Sam Boughedda

Investing.com — Ironnet Inc (NYSE:IRNT) stock rallied over 57% Wednesday after informing investors that it has joined the Microsoft (NASDAQ:MSFT) Intelligent Security Association (MISA), while social media chatter talked up a potential short squeeze.

MISA is a nomination-only association of independent software vendors and managed security service providers that have integrated their solutions to defend against cyberattacks.

"As we continue to see an increase in malicious cyberattacks against both the public and private sectors, we are pleased to join the Microsoft Intelligent Security Association to advance how we defend together," said IronNet Founder and Co-CEO, Keith Alexander.

The integration will build on IronNet's integration with Microsoft Azure Sentinel and its Azure virtual sensor, which provides protection of cloud workloads, and IronNet's threat-detection integration with Microsoft 365.

Since the news, various posts on social media platforms have talked of a potential short squeeze on the stock, which helped to boost its shares further. 

IronNet shares closed the session at $16.25

IronNet Stock Rises After Joining Microsoft Intelligent Security Association
 

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