Cyber security stocks could see near-term upside.
All after 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.
A cyberattack also hit Israel 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.
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).