CISO Launches AI-Powered Cloud Security Solution For Enterprises, But Stock Craters: Retail Dismisses The Drop

Shares of CISO Global Inc. (CISO) fell almost 20% in Monday’s regular trade and extended the losses in the after-hours trading session by over 1% even as the company announced a security solution for enterprises.

CISO’s new artificial intelligence-powered (AI) cloud security solution offers enhanced protection measures to help organizations maintain the security of their data, users, and networks.

The new product, called CISO Edge, is rolling out to the company’s existing users as well as channel partners. It is a part of CISO’s cybersecurity portfolio, valued at $50 million, according to the company.

"CISO Edge was designed to meet the cybersecurity demands of large-scale enterprises, providing AI-powered, cloud-first protection that stops advanced cyber threats before they can disrupt business operations,” said David Jemmett, CEO of CISO Global.

CISO Edge has been tested in real-world scenarios, with the most recent instance being at the 2024 annual Black Hat conference in the U.S., where it blocked more than 87,000 cyberattacks in six hours.

However, retail sentiment on Stocktwits showed optimism among investors. One user dismissed the drop, saying there’s “no reason” for it to have happened.

Another user expressed happiness and said the stock could rally on Tuesday.

CISO’s stock has fallen nearly 74% year-to-date, but its one-year performance is relatively better, with a decline of 30%.

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