3 ms·
The stock definitely was at a peak, and fell dramatically on the release of that news and stayed low. That part is absolutely correct. Now you can argue that it
by InTheArena 5y ago
The stock definitely was at a peak, and fell dramatically on the release of that news and stayed low. That part is absolutely correct. Now you can argue that it wasn't a permanent loss, but the damage was done by the hacker and the journalist.
It has also stayed relatively in that range afterwards - but you can definitely argue that this is due to the supply chain problems that the entire world is dealing with - but it's a pretty straight line to say that billions in shareholder value were wiped out.
- tptacek 5y agoCorrelation isn't causation, especially with stock prices.
- InTheArena 5y agoOh I don't know. news coming out / leaking about a massive data breach, and the stock dropping off it's high _the very same freaking day_ seems like causation, not correlation. But whatever.
- tptacek 5y agoStocks drop for all sorts of reasons, and stuff like breach notifications are routinely swamped by other (often macro) causes. But nerds love to believe that security stories have powerful impacts on stocks, despite the fact that the most successful companies routinely experience them.