Small cap cybersecurity companies CYREN Ltd (NASDAQ:CYRN) and Cerberus Cyber Sentinel Corp (NASDAQ:CISO) are surging Monday following a statement from U.S. President Joe Biden calling for increased cybersecurity measures.
"This is a critical moment to accelerate our work to improve domestic cybersecurity and bolster our national resilience," Biden said Monday in a White House statement.
President Biden warned that his previously issued warnings have become even more important, suggesting that Russia is preparing for cyberwarfare.
"Today, my Administration is reiterating those warnings based on evolving intelligence that the Russian Government is exploring options for potential cyberattacks."
Cyren shares surged on the news, potentially as a consequence of high short interest in the name. The company was recently added to Benzinga's short-squeeze candidate list.
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CYRN, CISO Price Action: At publication time, Cyren was up 26.2% at $8.01 and Cerberus was up 14.9% at $6.88.
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