Despite fresh deals to export grains from Ukraine possibly signalling the end of tasty wheat shortages, it appears déjà vu for other glitches triggered by the Russian invasion. Like cybersecurity, which has been shields up since hackers picked sides in the battlefield divide. 🛡️ And as cyberlife and real life converge in the matrix - with livestreamers vanishing in China and Thai activists the victims of spyware - the US is also dodging ‘malicious cyber activity’. 👨💻
Why? Because hackers are deep into digital rabbit holes, and Americans not willing to be unplugged are targets. In 2021, Americans caught in a bad romance lost US$350 million in dating scams - a third contacted through Meta (META) platforms, Facebook and Instagram. The US military also had a bitter red pill to swallow, with various personnel losing US$822 million to cybercrime from 2017 to 2021. 💊
Does that mean the cybersecurity industry is booming? Researchers at London-based BMRC have projected it could be worth US$403 billion by 2027. Others forecast specialist industrial cybersecurity could reach US$42.96 billion by 2029. Over at Yahoo! Finance, analyst Josh Enomoto reckons there may yet be more anti-US threats from ‘belligerent state actors’ leading state-sponsored cyber attacks, and cybersecurity companies are geared up to strengthen digital services. 🕵 Enomoto’s ones to watch include government cybersecurity specialists Caci (CACI), Fortinet (FTNT), Qualys (QLYS) and Palo Alto Networks (PANW), and identity cloud company Okta (OKTA).
Also searching and destroying hacks is AI system cybersecurity company Sentinel One (S). And they may be hoping their tentacles are far reaching as they give the finger to cyber rebels. 🖕 Yet despite their revenue levitating 109% in the first half of the year, beating expectations by 5%, they’ve been caught in the slipstream of their own operating losses of nearly -60%. So whether investors choose the red pill or blue, always choose wisely. Bug out. 🦗