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Palo Alto Networks, Inc. (PANW) - free report >>
Amplify Cybersecurity ETF (HACK) - free report >>
First Trust NASDAQ Cybersecurity ETF (CIBR) - free report >>
CrowdStrike (CRWD) - free report >>
Why Cybersecurity ETFs are Rising amid Russia-Ukraine Crisis
The stock market continues to be volatile as investors monitor the developments in the Russia- Ukraine war. Late last week, stocks had rebounded as sanctions imposed on Russia were not as draconian as feared, but the US and its allies announced more aggressive sanctions over the weekend.
Cybersecurity stocks have surged over the past few days as many experts warned about the possibility of cyberattacks by Russia in retaliation to Western sanctions. In fact, cyberattacks appear to be a part of Russia’s war strategy. Last week, many Ukrainian entities were hacked, which were the worst in the country’s history.
Several cyberattacks in recent years have been linked to Russian entities, including a high-profile ransomware attack on Colonial Pipeline last year.
As our world is becoming increasingly digital and interconnected, the risk of security breaches and threats continues to increase, and we are likely to see increased demand for security products and services.
To learn more about the ETFMG Prime Cyber Security ETF (HACK - Free Report) , the First Trust NASDAQ Cybersecurity ETF (CIBR - Free Report) , the iShares Cybersecurity and Tech ETF (IHAK - Free Report) and the Global X Cybersecurity ETF (BUG), please watch the short video above.
Palo Alto Networks (PANW - Free Report) , CrowdStrike (CRWD - Free Report) and Cloudflare (NET - Free Report) are among the top holdings in these ETFs.
Disclosure: Neena owns shares of IHAK in the ETF Investor Portfolio.