Cyberattacks are only getting worse.
Yet, companies and government officials still aren’t fully prepared.
For example, “The U.S. is currently not designed to act with the speed and agility necessary to defend the country in cyberspace. Our country has lost hundreds of billions of dollars to nation-state-sponsored intellectual property theft using cyber espionage,” as noted by the Cyberspace Solarium Commission, as reported by Fox Business.
Hospitals, schools, and financial institutions aren’t ready. “Nearly 29% of organizations haven’t tested their cyber defenses for a year and out of them more than half weren’t confident about whether their plans will work as per the expectations,” says FireEye, as reported by Cybersecurity Insiders.
So it came as no shock, the world was hit again.
Over the last few days, about 200 U.S. companies were hit with another major attack. In fact, according to the New York Post, “Huntress Labs, a cyber-security firm, said the colossal ransomware attack occurred first at Kaseya, a Florida-based IT company, and then spread through the corporate networks that use its software.”
In addition, according to NBC News, the hackers say they’ve locked about a million individual devices, and are demanding $70 million in Bitcoin to unlock them all.
The worst part – more attacks are likely.
In anticipation of further cybersecurity issues, some of the top stocks to consider include FireEye (FEYE), Palo Alto (PANW), and Fortinet (FTNT). Investors can also pick up ETFs, including
Global X Cybersecurity ETF (BUG)
“The Global X Cybersecurity ETF (BUG) seeks to invest in companies that stand to potentially benefit from the increased adoption of cybersecurity technology, such as those whose principal business is in the development and management of security protocols preventing intrusion and attacks to systems, networks, applications, computers, and mobile devices,” says Global X.
At $28.95, a share, BUG offers exposure to cyber stocks such as Fortinet, Palo Alto Networks, Check Point Software, Cyberark Software, and FireEye Inc.
iShares Cybersecurity and Tech ETF (IHAK)
According to iShares, “The iShares Cybersecurity and Tech ETF seeks to track the investment results of an index composed of developed and emerging market companies involved in cyber security and technology, including cyber security hardware, software, products, and services.”
At less than $43.19 a share, the ETF offers exposure to Fortinet, Proofpoint, Juniper Networks, VMWare Inc., Palo Alto Networks, Okta Inc., and Check Point Software.