Cyber Markets Roundup (Wk. 7.1, Feb 17 '23): How hacking incidents and uncertainties help fuel the rise in cybersecurity stocks
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Thank you for following Cyber Markets Roundup (CMR). We have received great response from our followers since the first CMR edition came to fruition. That is why this week, we're doing another edition of the CMR to deliver the latest news and updates in cybersecurity, stocks, and financial markets. If you enjoyed this edition of the Cyber Markets Roundup, we are inviting you to follow CMR on LinkedIn and let us build a community of like-minded individuals who are interested in cybersecurity, stocks, and financial markets.
*Stock data as of the market close, cryptocurrency data as of 4:00 AM ET.
WHAT’S NEW
Reddit confirms it was hacked after employee was victim of phishing attack
Popular internet forum website Reddit has confirmed it was the victim of a cyber attack, with hackers using a phishing attack on employees to steal login details and access the platform’s internal systems.
A phishing attack involves hackers trying to trick victims into handing over personal information by posing as a credible figure or business in an effort to gain personal information.
Reddit confirmed the attack had seen “limited contact information” of current and former employees and “limited advertiser information” had been exposed in the attack. [The Independent]
3 Stocks to Buy for the Future of Cybersecurity
It’s no longer a question of if we’ll get hit with another cyberattack but when. Experts warn 2023 could see a sharp rise in attacks, which could fuel the upside for these top cybersecurity stocks. What makes things worse is that governments and businesses are unprepared for catastrophic cyberattacks. As we wait to see what comes next, here are three top cybersecurity stocks you may want to consider. [InvestorPlace]
Top Risks in Cybersecurity 2023
Identifying cybersecurity risks is the first step in managing them, and is your company ready to take on these cybersecurity risks? We know that there is no one-size-fits-all approach to this as different businesses may require bespoke responses. In this report by the Bipartisan Policy Center, the goal is to help business leaders identify potential cybersecurity risks for their company and how they are able to mitigate and prevent these situations moving forward. [Bipartisan Policy Center]
Outlook for cybersecurity stocks amid data breaches
Join Andrew Nowinski, senior research analyst with Wells Fargo, in his interview with BNN Bloomberg as he discussed recent security and data breaches in well-known companies and explains how this can turn into an investment opportunity for Stocks in the Cybersecurity sector. [BNN Bloomberg]
