Rubrik (RBRK) Loses 8.9% on Lack of Devt

We recently published 10 Big Names With Painful Declines. Rubrik Inc. (NYSE:RBRK) was one of the worst performers on Tuesday.

Rubrik snapped a three-day winning streak on Tuesday, shedding 8.87 percent to close at $62.26 apiece amid the lack of fresh leads to spark buying appetite.

Year-to-date, the company has already gone down by 18.4 percent.

In other news earlier this month, Rubrik Inc. (NYSE:RBRK) unveiled a new product called Security Cloud Sovereign, which allows global organizations complete data control, including where data resides and who has access to it as regulations change.

“Our customers have been clear about what they need. They want certainty that no foreign entity, whether government or vendor, can access or control their data. For those managing sensitive data, sovereignty isn’t optional—it’s fundamental. [This] announcement reinforces our commitment to helping leaders secure their posture against foreign and domestic adversaries,” said Rubrik Inc. (NYSE:RBRK) Chief Product Officer Anneka Gupta.

Among its features, the new product is also equipped with advanced capabilities to protect and recover workloads across on-premises, cloud, and SaaS environments.

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Disclosure: None. This article is originally published at Insider Monkey.