This is Why Cyber Security Stocks are Exploding

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Over the last few days, 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.”

Now, we’re learning the Energy Department and National Nuclear Security Administration, which maintains the U.S. nuclear weapons stockpile was just hacked.

According to Politico, “The attack on DOE is the clearest sign yet that the hackers were able to access the networks belonging to a core part of the U.S. national security enterprise. The hackers are believed to have gained access to the federal agencies’ networks by compromising the software company SolarWinds, which sells IT management products to hundreds of government and private-sector clients.”

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).