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Friday, February 23, 2024

Cybersecurity stocks are getting battered. Here’s how the Silicon Valley Bank failure is to blame.

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Cybersecurity stocks had a bad week after the effects of the Silicon Valley Bank failure showed up in earnings reports — and after a strength that many companies relied on last earnings season shifted to a liability.

Shares of Cloudflare Inc. NET and Tenable Holdings Ltd. TENB, which both logged their worst one-day percentage drops this week, and other companies having a worse week than the ETFMG Prime Cyber Security exchange-traded fund HACK included Zscaler Inc., Okta Inc., CrowdStrike Holdings Inc. and Palo Alto Networks…



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