The cybersecurity issue is getting way out of hand.
In fact, after all of the attacks, we’re still not ready for them.
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.
Many times, those committing cyberattacks, are allowed to just walk in the front door. All because an intern created a simple, hackable password.
Look at SolarWinds.
“The SolarWinds breach earlier this year, considered the largest in the world to date, is said to have resulted from an intern using an incredibly simple and easily guessable password: “solarwinds123”. The hackers didn’t have to do any “hacking” to execute their breach. They just walked in the metaphorical front door and sat in the living room for 18 months without anybody knowing they were there,” says Business Insider.
How ridiculous is that?
Worse, Cybersecurity Ventures expects global cybercrime costs to grow by 15 percent per year over the next five years, reaching $10.5 trillion annually by 2025, up from $3 trillion in 2015.”
Hopefully, we can get a handle on the attacks.
In the meantime, we can profit from the higher need for security.
For investors, while you can always buy stocks like FireEye (FEYE), Palo Alto (PANW), and Fortinet (FTNT), you can also pick up ETFs, which offer solid diversification at less cost, such as:
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 $26.80 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 $40 a share, the ETF offers exposure to Fortinet, Proofpoint, Juniper Networks, VMWare Inc., Palo Alto Networks, Okta Inc., and Check Point Software.
The post With Cyber Threats Mounting, These are the Two Stocks to Own appeared first on Morningology.
