Does Penny Inventory CYREN belong in your portfolio?

© Reuters. Does Penny Stock CYREN belong in your portfolio?

Israel-based cybersecurity company Cyren (NASDAQ 🙂 has a broad consumer base and has completed several product developments with the help of Cyber ​​Inbox Security. However, CYRN's shares have fallen in price over the past few months. So let's evaluate whether it is wise to scoop up your stocks now. Read on, Cyren Ltd. (CYRN), based in Herzliya, Israel, develops and markets information security solutions to protect web, email and mobile transactions. Its offerings include Cyber ​​Intelligence Suite and CYREN EmailSecurity, and its clients include industry leaders such as Microsoft Corporation (NASDAQ 🙂 and Google by Alphabet Inc. (NASDAQ :). However, the penny stock lost 50.9% last year and 21.1% last month to close yesterday's trading session at $ 0.47.

CYRN announced on October 6 that it had received written notice from Nasdaq Capital Market that it must comply with Nasdaq's minimum bid price requirement by April 4, 2022. Additionally, the company has sold shares and intends to use the proceeds for labor, capital purpose and debt settlement.

On September 20, CYRN completed a private offering of approximately 14 million of its common stock. However, this transaction could dilute the stock. So the near-term outlook for CYRN looks uncertain.

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