Cyber security stocks are seeing a good deal of momentum.
For one, the Trump Administration acknowledged reports of a cyberattack on the U.S. Treasury by a foreign government. “The hackers are suspected of targeting the Treasury Department as well as the Commerce Department’s National Telecommunications and Information Administration, or NTIA, a U.S. agency that is tasked with crafting internet and telecommunications policy, Reuters reported.”
Reportedly, hackers use the organization’s Microsoft Office 365 platform to monitor staff e-mails for quite some time, added Fox Business.
Two, a cyberattack also hit 40 Israel firms in recent days.
“A major cyberattack earlier this month hit dozens of Israeli logistics companies, with hackers making off with information from servers, according to a report of the incident by one of the victims filed Sunday to the Tel Aviv Stock Exchange,” reported Times of Israel.
At the moment, the attack is being blamed on Iran, as revenge for the recent assassination of its top nuclear scientist. According to Haaretz, “News of the hack and subsequent data leak from firms using Amital Data’s Unifreight software was revealed in a filing to Israel’s stock exchange by Amital’s stockholder Orian.”
“Meanwhile, a hacking team called Pay2Key, which in the past was linked back to Iran, made a public statement regarding an attack it launched in September against yet another Israeli firm – Habana Labs, which is owned by Intel and provides AI solutions. The hackers said they had full control over the Israeli company’s system, including access to sensitive data.”
With that news, cybersecurity stocks are seeing some good attention.
Some of the top ones to keep an eye on are FireEye (FEYE), ETFMG Prime Cyber Security ETF (HACK), Palo Alta Networks (PANW), Crowdstrike Holdings Inc. (CRWD), and the Global X Cybersecurity ETF (BUG).