Why Investors Just Don’t Care About Data Breaches
Eric Chemi reports:
On May 21, EBay revealed that it had suffered a cyber attack and data security breach, and users’ information—names, account passwords, e-mail addresses, physical addresses, phone numbers, and birth dates—was exposed to hackers. While security experts, the news media, and actual EBay users may have all been alarmed, the stock investors weren’t. EBay’s stock finished trading virtually unchanged that day, dropping all of 8 pennies to $51.88.
That’s been the trend among companies that have suffered cyber attacks—the stock market practically ignores them.
Read more on Bloomberg Businessweek.