The Jennifer Lawrence stock rally as hackers try to steal credit card data from Home Depot (HD) and naked pictures from Hollywood celebrities

The Jennifer Lawrence stock rally as hackers try to steal credit card data from Home Depot (HD) and naked pictures from Hollywood celebrities

4 September 2014, 15:11
Mike Dennis
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As hackers try to steal credit card data from Home Depot (HD) and naked pictures from Hollywood celebrities, cybersecurity companies are seeing big gains.

Shares of both Palo Alto Networks (PANW) and FireEye (FEYE) -- two of the hottest stocks in the security world -- are on fire this week. On Tuesday, Palo Alto rallied 5.6%, and FireEye popped nearly 9%. The stocks opened higher Wednesday as well.


"Cyber security stocks are ripping on news of a possible security breach at Home Depot," @StockTwits wrote on Twitter.



This isn't the first time a major hack caused a security firm to rally. Earlier this year FireEye stock jumped after Target grappled with a gigantic breach that impacted some 40 million customers.

Seizing on the dramatic increase in cyber attacks, both companies went public in recent years. Palo Alto raised $260 million in June 2012 when it starting trading on the New York Stock Exchange, while FireEye raised $304 million from its 2013 IPO on the Nasdaq.

The two cyber stocks have moved in different directions this year. Despite Tuesday's rally, FireEye is down 23% in 2014. Investors have shown far more love for Palo Alto, which is now up 56% so far this year.


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