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Stock Alert: Cubic Shares Surge 26%

Shares of Cubic Corp. (CUB) are currently trading at $56.10, up $11.73 or 26.44% Monday morning, with trading volume rising over 884K versus an average volume of 447K shares. The stock has been trading in the range of $30.86 - $75.20 for the past one year.

Cubic, on Monday, announced that its Board of Directors approved the adoption of a limited-duration shareholder rights plan and declared a distribution of one right for each outstanding share of common stock. The Rights Plan is effective immediately and would expire on September 19, 2021. The record date for the Rights distribution is October 1, 2020.

On Sept. 18, the company announced that it's Cubic Mission and Performance Solutions (CMPS) business division has been awarded a contract to continue delivering support for its P5 Combat Training System (P5CTS) for the U.S. Air Force (USAF) and a number of international partners currently using the system.

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