Cyren (CYRN) Stock Plunges 7%: Why Does CYRN Team With TD SYNNEX?

Cyren, a leading global distributor and aggregator solutions for the IT ecosystem, declared a distribution agreement with TD SYNNEX to offer its anti-phishing solution, Cyren Inbox Security across North America. But before we talk about the latest news, let’s glance at its stock price. A weekly statistic shows an upward trend. Over 3 days the stock price was flat somewhere in the region of $0.52. On Monday it started to surge. By Tuesday it already cost $0.93, with 55% profit. Then it plummeted substantially to $0.72.
CYRN uses machine learning and other methods to continuously detect and automatically respond to threats of phishing and business email compromise (BEC), which penetrate the perimeter of the e-mail. This approach extends and improves the current TD SYNNEX portfolio for protecting enterprise e-mail. Under this agreement, SYNNEX resellers can offer CIS as a simple add-on subscription to the new and existing capabilities of Microsoft 365. In addition, CIS can be sold with other security solutions, such as secure e-mail gateways and safety training, providing a comprehensive solution to protect against phishing.

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