Why Cloudflare Stock Is Jumping Today
The stock of Cloudflare (NYSE: NET) is making gains in Thursday trading. The software specialist's share price was up 4.5% as of 10:15 a.m. ET today. Meanwhile, the S 500 index and the Nasdaq Composite index were both down 0.8%.
Cloudflare and other cybersecurity stocks are gaining ground in conjunction with recent news about hacking attacks originating from China. In addition to its content-delivery-network (CDN) services, Cloudflare is also a leading provider of distributed-denial-of-service (DDoS) mitigation and other cybersecurity tools.
On Dec. 30, the U.S. Treasury Department announced that it had been breached by Chinese hackers. The department described the attack as a "major incident" and indicated that hackers had been able to gain access to computers used by Treasury employees.
Source Fool.com
