When You Get Hacked Next…
We Americans are in grave danger.
It’s because corporate America and our government alike can’t keep private data safe.
Remember when Equifax was hacked?
The 2017 cyberattack rocked the financial world. Yet almost two years later, that stolen private data of 143 million Americans are still missing. NO ONE knows where they are.
Most experts believe the data were stolen for spying purposes, according to multiple media reports.
Scary stuff indeed…
But the Equifax breach is only the tip of the iceberg. The number of cyberattacks has climbed exponentially over the years.
Between rogue nation-states and lone-wolf hackers, it’s clear cybersecurity is of utmost importance to our national security.
But this makes for a target-rich environment with cybersecurity stocks.
New Tech Leaders Emerge
Cyber stocks are bouncing back nicely after the October–December correction. The PureFunds ISE Cyber Security ETF (HACK) has smashed through its 200-day moving average and is now revisiting its pre-correction highs:
The truth is we need more cyber protections than ever — and fast. HACK is a great way to capture profits as the cybersecurity space tests new highs.
But it isn’t the only way to capture gains in this space.
CyberArk Is Breaking Out
My colleague and trading expert Greg Guenthner recently recommended grabbing shares of CyberArk Software (NASDAQ: CYBR) as it was breaking out to all-time highs.
The stock was emerging as a new market leader, he noted, even as the averages were having a tough start to the week.
Overall, these cybersecurity names have held up much better than their tech brethren.
“HACK was down about 9% from its October highs when we were looking at CYBR as a short-term move last month. Now these stocks are taking their rightful spots as some of the first to post extended rallies this year,” reports Greg.
It also doesn’t hurt that CYBR crushed fourth-quarter earnings expectations, launching the stock to new highs last week, as you can see above.
Bottom line: A stake in cybersecurity looks like a strong bet.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily