My Company Was Hacked. My Stock Is Paying The Price.
Clorox (ticker: CLX), has lost approximately 24% of its value since its August 14th announcement that it was hacked. While many CEOs and Boards have found cybersecurity religion, many have not. Negligence can be costly.
Any company may be hacked, even those that are vigilant about cybersecurity. I don’t know how vigilant Clorox was or is about cybersecurity. It is difficult for companies to create an effective cybersecurity protocol. While cybersecurity best practices exist, there is no silver bullet approach.
Machine Learning plays a role in helping companies to identify potential cyber threats, primarily by way of pattern recognition used to identify events that may be characterized as outliers. Cybersecurity vendors will increasingly invest in AI /ML / advanced automation technologies that can help enterprises defend themselves from cyberattacks at scale.