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Capital One Data Breach Shines Light On Cybersecurity ETFs: (HACK) - (CIBR) - (FITE)

TedTed
in Fund Discussions
FYI: The data breach involving a hacker who accessed the personal information of roughly 100 million people in the U.S. and 6 million in Canada who are Capital One credit card customers or had applied for its cards is yet another example of why cybersecurity—the protection of internet-connected systems—is one of the most essential industries of the 21st century.

In reaction to the news, it’s no surprise that Capital One’s stock took a header on Tuesday with a drop of nearly 6%, which was up a couple of percentage points from its afternoon low. But it’s somewhat surprising the share prices of the two main cybersecurity exchange-traded funds—the ETFMG Prime Cyber Security ETF (HACK) and First Trust Nasdaq Cybersecurity ETF (CIBR)—were down slightly for the day.
Regards,
Ted
https://www.fa-mag.com/news/capital-one-data-breach-shines-light-on-cybersecurity-etfs-50830.html?print

Comments

  • sma3
    from what I read this was an inside job pulled off by rouge AWS employee and her knowledge of a back door. Unlikely that proprietary software from these companies would have protected them
  • rforno

    translation:

    (Industry Event) Shines Light on (Industry Funds). Just another day in the real world.....things happen.
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