On Monday President Joe Biden said “based on evolving intelligence, Russia may be planning a cyber attack against us [United States].”
What Happened: The Biden administration said it gathered intelligence over the weekend that suggested Russia could be planning a cyberattack against the United States. Biden warned that the magnitude of Russia’s cyber capacity is "fairly consequential."
The federal government is doing its part to prepare for the possibility of a cyberattack, but reminds the private sector that “it largely decides the protections that we will, or will not take," Biden said.
“It is the national interest at stake, I would respectfully suggest that this is a patriotic obligation to invest as much as you can in making sure that you have built up your technological capacity to deal with cyber attacks.”
To this end, investors rushed to publicly traded cybersecurity companies, pushing share prices up on fear and uncertainty. Here is a list of those movers on a trailing five-day average:
- Fortinet Inc FTNT +9.65%
- Check Point Software Technologies Ltd. CHKP +1.84%
- Akamai Technologies, Inc AKAM +1.83%
- Zscaler Inc ZS +12.59%
- Marvell Technology Inc MRVL +5.94%
- Palo Alto Networks Inc PANW +12.24%
- Crowdstrike Holdings Inc CRWD +17.88%
- SentinelOne Inc S +15.17%
- Cyberark Software Ltd CYBR +13.19%
- Tenable Holdings Inc TENB +16.15%
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