Technology
Short Sellers Become More Selective in Cybersecurity
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Cybersecurity has become an increasingly important issue that companies have to address as they continue to develop new platforms and mobile apps. Looking back in years past, hackers were able to steal credit card and personal information from major retailers like Home Depot and Target. As a result, cybersecurity has become more necessary, and instead of developing a dedicated department within a company, most would opt to hire a third-party cybersecurity firm.
The February 29 short interest data have been compared with the previous figures, and short interest for the selected cybersecurity stocks was mixed.
FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 15.67 million shares from the previous reading of 16.51 million. Shares closed Wednesday at $18.03, in a 52-week trading range of $11.35 to $55.33.
CyberArk Software Ltd. (NASDAQ: CYBR) saw its short interest fall to 2.02 million shares from the previous level of 2.52 million. Shares closed Wednesday at $38.04, within a 52-week range of $31.50 to $76.35.
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