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Why Cubic Stock Just Popped 10%

TheMotleyFool

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Why Cubic Stock Just Popped 10%Photo, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.midjourneyapi.xyz/temp/138548fd-aba2-4b3e-b9ee-93725b372952.png

Shares of defense contractor Cubic Corporation (NYSE: CUB) jumped in Monday trading and are up 9.6% as of 1:30 p.m. EST. The company announced this morning that in its fiscal first quarter of 2021, its sales declined 3% to $319 million, and it lost $0.41 per share -- but obviously, this isn't the reason investors are excited.

They're excited because Cubic is getting bought out.

Image source: Getty Images.

Source Fool.com

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