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IronNet, Inc. (IRNT)

NYSE - Nasdaq Real Time Price. Currency in USD
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0.7153+0.0080 (+1.13%)
As of 01:14PM EDT. Market open.

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  • D
    70 cents. What a joke
  • P
    I don't think that IRNT has another 10% in gains in it. Looks pretty bad here. I actually found the other day and their stocks are way better...
  • B
    We should be okay guys. Keith Alexander is going to speak about ecosystems on Oct 17...... Now I know what you're thinking.... What does that have to do with the stock falling off a cliff.... And you would be right.... Absolutely nothing.... We're in trouble. This ship is sinking and the captain has taking the last lifeboat....
  • c
    I highly recommend to any day traders out there! The daily email watchlists are top-notch!
  • O
    Did you guys see this new trading strategy. For more info
  • S
    Steven H
    Revenue is 28m valued at 35m
  • D
    About one year ago, this stock was squeezing hard towards $50 a share. Selling calls at $6 a pop... the premium per share on the calls was about 5 times the current share price.

    Won't see this again for 100 years, and the crash has just begun.
  • V
    David, I wanted to answer your question, but I also didn't want to seem like I was hiding. I've been tough on you and maybe you are legit (I still have my doubts), so I wanted to write down my thoughts.

    If you've been following this story, you would know that when this merged, there were a lot of redemptions. It's an arbitrage thing. If anyone doesn't understand that or anything else I write, just comment below. Keith mentioned that he expected to have more cash coming out of the merger. It was a double edge sword though because the high redemptions meant a low float which was susceptible to a squeeze and hence the 47 dollar price. The squeeze collapsed and left us here at 52M shares which is still quite tiny.

    IRNT entered into an unsecured debt deal for 10M which can be expanded to an additional 15M if certain stock conditions are met. In the previous quarter conf call, Keith said that current market conditions are delaying some deals. "We would like to reiterate that we see the significant majority of these ARR opportunities as pending rather than lost." and "Our issue continues to be largely, timing and bureaucracy, not a lack of perceived value by our customers and this is important to highlight as a reason for our high confidence and our ability to bring this business back."

    They are refocusing the business to generate more deals to survive this tough market while preserving as much cash as they can. In the tech world, if a company can't pay large salaries for top talent, they are usually compensated with stock.

    I'm a small cap guy, so I have a very diverse portfolio of small cap companies where some might go under and some won't. There is a strong push going on right now to drive IRNT's stock price down because if you short a stock to bankruptcy, you don't have to return the shares (which I believe generates tax benefits, but I could be mistaken. Either way, the worst would be long term cap gains while you push the stock price into the ground.) It's a common theme in distressed companies, hence the hit piece that came out a few days before earnings and the two drop in ratings the day after.  IRNT might go through a RS, I'm not sure, but this is different from most struggling companies because they have good IP and they have steady revenue. Yes, it's not a money making company, but that's only been a recent demand from the market because of the Fed's tightening which I think won't be much longer lived. The dollar is very high which will give support to the overall market as it reduces inflation and allows the Fed to relax a bit. Right now, small caps are very undervalued based on historical norms, and if you can find distressed companies that can turn it around, stay diversified, and be vigilant, you will have greater gains by seeing value where others didn't.

    Because of the reduced cash position after the merger, Keith didn't foresee the challenge of being in a tight cash position from the high redemptions before more deals started flowing in. That's the risk for IRNT, will the deals start flowing in as inflation cools and tightening slows? I'm not sure, but I have the appropriate amount of shares for the risk I'm taking. I've heard some negative things about the guy from Zscaler, so I'm happy to see him move on and the reduction in overhead. Just my two cents. GLTA.
  • D
    77 cents.
  • R
    Why was IRNT $47 less than a year ago???
  • F
    Fast Turtle
    this will a miss and trade below $2/s
  • P
    P Logg
    The most important part of the upcoming ER call imo, will be the discussion around the Federal Government contracts (as much as they're at liberty to discuss); with the CISA agreement in place more should be following & none of this was included in previous earnings guidance. That opportunity is not only massive for the $ but the other deals it helps bring in. GLTA
  • n
    niswanger has done wonders for my portfolio! These guys really know what they are doing. Highly recommended for all traders.
  • R
    1 new contract will stop this overreaction
  • A
    Well it seems were going red after running it up to 140 pennies. Not a good sign. If this continues they will squeeze the life out of this stock by churning the shares down even more. Most people already sold by now who had big losses. Theres alot of scalpers out there who accumulate no cost shares and use the options strategies for income. If there shares get called away they don't care because there cost basis is 0. The float is in real jeopardy at this point in my opinion. Full disclosure I own the april 2023 3 dollar calls that got creamed Im holding them for now but will sell on any significant move up like this morning's no reason run up for instance.
  • S
    Stupid Redd
    So far I’m winning with the share I got for $1.20
  • A
    I messed up buying this one
  • L
    The market could be about to tank...Do this now.For more info