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Why Cubic Jumped More Than 25% Today

TheMotleyFool

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Why Cubic Jumped More Than 25% TodayPhoto, wide shot, wide-angle lens, Investment company, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/81ff9992-3b90-4de2-ac95-7385f4698b55.png

Shares of defense and transportation technology systems company Cubic (NYSE: CUB) are up 25% as of 11:10 a.m. EDT.

In an announcement today, the company disclosed a stake by activist investment manager Elliott Management, and said it had adopted a limited-duration shareholder rights plan, saying it believes it has "excellent" prospects as a stand-alone company.

Image source: Getty Images.

Source Fool.com

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