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Cyber security stocks mostly lower in wake of Colonial Pipeline ransomware attack

·1 min read
Cyber security stocks mostly lower in wake of Colonial Pipeline ransomware attack
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Shares of cyber security software stocks were mostly lower Monday, as the overall weakness in the technology sector outweighed security concerns following the ransomware attack on the Colonial Pipeline Co. that forced the shut down of pipelines that supply the East Coast with much of its refined fuel. The ETFMG Prime Cyber Security ETF fell 0.7% in morning trading, with 38 of its 58 equity components trading lower. Among the ETF's more-active U.S.-listed components, shares of FireEye Inc. rallied 3.1% and Cisco Systems Inc. gained 0.5%, while Cloudflare Inc. shed 3.5% and CrowdStrike Holdings Inc. slid 1.9%. Meanwhile, the SPDR Technology Select Sector ETF dropped 1.1% while the S&P 500 slipped 0.1%.