$HUB.TA Jumps >20% after Bosch Collab, Tech Market Lags Behind
Whereas September proved to be one of the worst months in the history of equities markets, the volatility and ongoing uncertainty October has delivered thus far has been little reprieve. One outperformer amidst all of the red is Hub Security (TASE: HUB), a confidential computing and cyber security disruptor that is going public on NASDAQ via SPAC merger with RNER for an expected Q4 listing. Just last week Hub announced the submission of an updated F4 to the SEC, indicating that the company is checking off the final regulatory agenda items before the listing can take place.
My tech portfolio has been in danger zone for about the past 6 months, but HUB is a rare outperformer despite today's bearish conditions. Over the past month, HUB.TA +22% whereas both market baselines are down (NDX -5%, TA90 -7%) and sectoral ETFs (BUG -5.3%, HACK -4.9%). That's a differential of nearly 30%, and its in response to a clear though quiet catalyst.
On October 12th, HUB announced a collaboration with Bosch (NYSE: BSWQY), a major global producer of automotive products with a nearly 500bn market cap. Hub is providing cyber security for Bosch data centers in Hanover Germany in a pilot project that showcases the need for advanced solutions for critical infrastructure manufacturers. The data centers in question are for Bosch's cutting edge hydrogen fuel cells, meaning that collaboration testifies to both companies' dedication to ESG and net neutrality.
This latest partnership is the latest in a series of high-profile deals inked by Hub in the leadup to its NASDAQ debut. In recent months the company has entered engagements with both public and private sector actors ranging from MoDs to central banks and big-cap listed companies. The Bosch deal exerted a little reported though double-digit impact on Hub share price, and this is exactly the type of accumulation investors should be looking for on the heels of a listing.
My tech portfolio has been in danger zone for about the past 6 months, but HUB is a rare outperformer despite today's bearish conditions. Over the past month, HUB.TA +22% whereas both market baselines are down (NDX -5%, TA90 -7%) and sectoral ETFs (BUG -5.3%, HACK -4.9%). That's a differential of nearly 30%, and its in response to a clear though quiet catalyst.
On October 12th, HUB announced a collaboration with Bosch (NYSE: BSWQY), a major global producer of automotive products with a nearly 500bn market cap. Hub is providing cyber security for Bosch data centers in Hanover Germany in a pilot project that showcases the need for advanced solutions for critical infrastructure manufacturers. The data centers in question are for Bosch's cutting edge hydrogen fuel cells, meaning that collaboration testifies to both companies' dedication to ESG and net neutrality.
This latest partnership is the latest in a series of high-profile deals inked by Hub in the leadup to its NASDAQ debut. In recent months the company has entered engagements with both public and private sector actors ranging from MoDs to central banks and big-cap listed companies. The Bosch deal exerted a little reported though double-digit impact on Hub share price, and this is exactly the type of accumulation investors should be looking for on the heels of a listing.
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