AI Security Stocks Face Performance Tomorrow, Market Cap Drops by 1.2 Trillion Won in a Day

Shares of Rubrik Inc. (NYSE: RBRK) closed at $76.19 on the New York Stock Exchange, down 7.46%, wiping out roughly $850 million in market capitalization in a single day.

Trading volume topped 3.2 million shares, and despite the sharp decline, the company’s market cap remains around $12.2 billion.

Investment bank Cantor Fitzgerald reiterated its Overweight rating on Rubrik and maintained an $85 price target, stating that partner demand remains robust ahead of the company’s fiscal 2027 first-quarter earnings report on June 4.

However, some analysts view the pullback as a correction after a short-term surge in valuation following positive catalysts such as the launch of the Microsoft 365 cyber resilience solution in collaboration with Sophos and the introduction of an AI governance engine.

Founded in 2013 and based in Palo Alto, Rubrik provides cloud data management and cyber resilience solutions on a subscription basis, including enterprise data backup and recovery, ransomware protection, and data security.

While subscription revenue has grown rapidly—expanding the top line—Rubrik remains unprofitable, and its high price-to-sales ratio alongside the pace of future profitability improvements has become a focal point of investor debate.