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Plymouth Rock Technologies Inc. (PRT) has announced a name and symbol change to Aether Global Innovations Corp. (AETH)
Shares will begin trading under the new name and symbol and with a new CUSIP number on August 1, 2023.
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Plymouth Rock Announces Debt Settlement and Board of Director Changes
May 30, 2023
Plymouth Rock Technologies Inc. (CSE:PRT ) (OTC:PLRTF ) (Frankfurt: XA ) ( WKN#A2N8RH) (“Plymouth Rock ”, “PRT ”, or the “Company ”), announces the Company intends to issue 2,600,000 Common Shares at a deemed price of $.065 CDN per Common Share, to settle $169,000 CDN of debt due to Canaccord Genuity Corp. for advisory services. The shares issued to complete the settlement of debt will not result in a change of control. Upon completion of the issuance, the Company will have 95,597,461 Common Shares issued and outstanding.
Furthermore, the Company announces the resignation of director Dana Wheeler, and has appointed Alan Treddenick as a new director to the Board. Alan is the CEO of ATNOH Group, a Global Public Safety and Risk Consultancy. Prior to founding the company Alan spent 32 years with the Canadian Security Intelligence Service (CSIS) and the Royal Canadian Mounted Police (RCMP), involved in extensive counter terrorism HUMINT operations within Canada and abroad. Upon retiring from government service, Alan joined BlackBerry’s Government Relations division and established a team to lead BlackBerry's strategic relationships with law enforcement, intelligence, and security agencies around the globe on national security, sensitive crimin al investigations, and other regulatory issues focused on lawful access and market access concerns. Alan is a graduate of Queen's University, the RCMP Training Academy, and the Canadian Police College.
“The Company and the board would like to thank Dana for all his contributions to Plymouth Rock Technologies since launch back in 2016 and wish him much success in his new endeavours,” shared Douglas Smith, Chairman of Plymouth Rock Technologies. “We’re also excited to welcome Alan Treddenick to the Board of Directors and look forward to his expertise in moving the business forward.”
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging and takeoff.
ON BEHALF OF THE BOARD OF DIRECTORS
Philip Lancaster, CEO
+1 (250) 863-3038
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
PRT:CNX
28 July 2023
CSE Bulletin: Name and Symbol Change - Plymouth Rock Technologies Inc.
Disclosure documents are available at www.thecse.com.
Please note that all open orders will be canceled at the end of business on July 31, 2023. Dealers are reminded to re-enter their orders.
_________________________________
Plymouth Rock Technologies Inc. (PRT) a annoncé un changement de nom et de symbole pour Aether Global Innovations Corp. (AETH)
Les actions commenceront à être négociées sous le nouveau nom et le nouveau symbole et avec un nouveau numéro CUSIP le 1 août 2023.
Les documents d'information sont disponibles sur www.thecse.com.
Veuillez noter que toutes les commandes ouvertes seront annulées à la fin des activités le 31 juillet 2023. Les concessionnaires sont priés de saisir à nouveau leurs commandes.
| Effective Date/ Date Effective : | Le 1 août/August 2023 |
| Old Symbol/Vieux Symbole : | PRT |
| New Symbol/Nouveau Symbole : | AETH |
| New CUSIP/ Nouveau CUSIP : | 00810E 10 9 |
| New ISIN/ Nouveau ISIN : | CA 00810E 10 9 7 |
| Old/Vieux CUSIP & ISIN : | 730020104/CA7300201042 |
If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Pour toute question, pour obtenir de l'information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l'adresse: Listings@thecse.com.
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27 July 2023
Plymouth Rock Technologies Changes Name to Aether Global Innovations Corp. and Launches New Website
(TheNewswire)
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Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) ( Frankfurt:4XA ) ( WKN#A2N8RH) (" Aether Global Innovations ", " AETH ", or the " Company "), is pleased to announce it has changed its name to Aether Global Innovation s Corp . Effective at the opening August 1, 2023, the Company will begin trading on the CSE under the symbol AETH . The Company's new CUSIP is 00810E109 and ISIN is CA00810E1097. The new website for Aether Global Innovation Corp (CSE: AETH ) is www.aethergic.com
Aether Global Innovations Corp., "The Fifth Element - The Medium of Space" signifies the transformative power of AI, data, and automated drones in domestic services and security. It represents the integration of advanced technologies, where AI processes real-time data for insights and automated drones to execute tasks efficiently. This paradigm shift enhances situational awareness, response, and resource allocation, revolutionizing domestic and security applications.
"We're excited to introduce Aether Global Innovations to the marketplace," shared Phil Lancaster CEO and President of Aether Global Innovations. "We spent a lot of time exploring what was and what wasn't working within the organisation and speaking with industry leaders in the drone space regarding the future of drone technology. Drones have seen a remarkable rise in adoption, with applications ranging from domestic to defense scenarios. As we look towards the future, we firmly believe that automation and AI will continue to play a pivotal role in enhancing the capabilities and services provided by drones. Our focus is now serving large property and critical infrastructure owners, operators, and their management teams, by delivering bespoke services, allowing them to make well-informed decisions that can significantly impact their operations. As we move the company forward, we would like to thank those shareholders, partners, and clients that remain steadfast in supporting us".
The Company announced its rebranding on June 16, 2023 and welcomes all to visit it new website at www.aethergic.com , where visitors will find more detail on the Company's overall vision and mission in bringing innovative management, automation and technologies to the drone and UAV marketplace.
About Aether Global Innovations Corp.
Aether Global Innovations (AETH) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.aethergic.com
ON BEHALF OF THE BOARD OF DIRECTORS
Philip Lancaster, President and CEO
Aether Global Innovations Corp.
info@aethergic.com
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
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24 July 2023
Amended: Plymouth Rock Announces Closing of First Tranche of Non-Brokered Private Placement Financing
(TheNewswire)
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Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) (Frankfurt:4XA ) ( WKN#A2N8RH) (" Plymouth Rock ", " PRT ", or the " Company "), a drone management and automation company, today announced it has completed a first tranche its previously announced non-brokered private placement by the issuance of 9,907,000 units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $594,420.00 (the "Offering"). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.10 for five (5) years from closing of the Offering
Finders' fees in the aggregate of $59,442.00 and 990,700 finders' b-warrants were paid on a portion of the Offering. Each finder's b-warrant entitles the holder to purchase one additional common share at a price of $0.10 for five (5) years from closing of the Offering.
The Units, common shares, share purchase warrants, finders' b-warrants and shares issued upon exercise of the share purchase warrants and / or the finders' b-warrants are subject to a four month hold period, expiring November 25, 2023.
The net proceeds of the private placement will be used for working capital and business development.
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.plyrotech.ca
ON BEHALF OF THE PRT BOARD OF DIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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24 July 2023
Plymouth Rock Announces Closing of First Tranche of Non-Brokered Private Placement Financing
(TheNewswire)
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Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) (Frankfurt:4XA ) ( WKN#A2N8RH) (" Plymouth Rock ", " PRT ", or the " Company "), a drone management and automation company, today announced it has completed a first tranche its previously announced non-brokered private placement by the issuance of 9,907,000 units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $594,420.00 (the "Offering"). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.10 for three (5) years from closing of the Offering
Finders' fees in the aggregate of $59,442.00 and 990,700 finders' b-warrants were paid on a portion of the Offering. Each finder's b-warrant entitles the holder to purchase one additional common share at a price of $0.10 for three (5) years from closing of the Offering.
The Units, common shares, share purchase warrants, finders' b-warrants and shares issued upon exercise of the share purchase warrants and / or the finders' b-warrants are subject to a four month hold period, expiring November 25, 2023.
The net proceeds of the private placement will be used for working capital and business development.
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.plyrotech.ca
ON BEHALF OF THE PRT BOARD OF DIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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20 July 2023
Plymouth Rock Technologies Signs Strategic Partnership MOU with Protegimus Protection
(TheNewswire)
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Plymouth Rock Technologies Inc. (CSE:PRT) (OTC:PLRTF) (Frankfurt:4XA ) ( WKN#A2N8RH) (" Plymouth Rock ", " PRT ", or the " Company "), a drone management and automation company, today announced the Company has signed a memorandum of understanding (MOU) for a Strategic Partnership with Protegimus Protection Ltd ("Protegimus"). The Strategic Partnership MOU is non-binding until finalized and will focus initially on Collaborative Business Development efforts specifically focused on critical infrastructure and security applications for remote monitoring (DiaB), this includes, (i) establishing key strategic objectives and client programs for new regions, specifically Asia Pacific and the Middle East and (ii) identifying additional services and capabilities for fixed and mobile aerial support operation center (ASOC) services, which are all of mutual interests to PRT and Protegimus
Plymouth Rock believes this Strategic Partnership with Protegimus will help further the Company's overall three (3) pronged business strategy for supporting critical infrastructures and large scale facilities, which includes: (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging and take-off.
"We are excited with our ongoing discussions with Protegimus around our strategic partnership," shared Phil Lancaster, CEO and President of Plymouth Rock Technologies. "Protegimus has developed exceptional solutions designed for the surveillance and protection of critical infrastructure facilities, including power stations, oil refineries and water treatment facilities, as well as these facilities' diverse networks of pipelines, waterways and energy grids. Protegimus' unique drone and UAV monitoring and surveillance services, through fixed and mobile aerial support operation centers (ASOC), offer customers better situational awareness, increased safety through proactive counter measures, and solutions for reducing costs while maintaining reliability. All are key to supporting PRT's mission to bring better, more robust drone and UAV management and monitoring solution to the marketplace."
"Our Protegimus team is very pleased about this opportunity to work with Plymouth Rock Technologies on this Strategic Partnership," shared Stephen O'Callaghan, CEO and Founder of Protegimus Protection. "The consortium of strategic partners that Plymouth Rock has been assembling is impressive and is bringing together a much needed fully integrated solution for large facilities and critical infrastructures. Protegimus is excited to add our expertise in surveillance, security and emergency response solutions that will be integrated in Plymouth Rock's complete management and monitoring offering."
Plymouth Rock and Protegimus have begun working on the final details of the Strategic Partnership. The companies will update the marketplace, clients, partners and shareholders as market impacting achievements are delivered.
In other news, Plymouth Rock Technologies UK Ltd., a previous subsidiary of the Company, is now in liquidation. Furthermore, the Company has ceased operations with its U.S. subsidiary.
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.plyrotech.ca
About Protegimus Protection Ltd.
Protegimus Protection is a licensed bodyguard, executive protection and security consultancy company that operates from within the United Kingdom. We are raising the standards in the industry and have goals that are client-focused and result-driven. Our security consultancy outfit provides a multitude of bespoke security services to the highest of standards. All Protegimus Protection security personnel are carefully and meticulously selected, through a strict and professional vetting process. This ensures that our clients have the best-suited personnel providing their security services to the highest of standards.
ON BEHALF OF THE PRT BOARD OF DIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Steve O'Callaghan, Founder & CEO
Protegimus Protection Ltd.
steve@protegimusprotection.com
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Keep reading...Show less
10 January
Cybersecurity Stocks: 10 Biggest Companies in 2025
Cybercrime is a growing concern, and it’s estimated that the annual cost of fighting cyber crime will reach US$10.5 trillion by 2025. Cybersecurity companies are working to address the challenge.
As investor interest in this potentially lucrative sector increases, the Investing News Network (INN) is profiling the top 10 biggest cybersecurity companies by market cap from eSecurity Planet's list of the top cybersecurity companies to watch.
The list from eSecurity Planet features 20 privately held and publicly traded cybersecurity companies across a range of stock exchanges. The firm employed criteria such as user reviews, product features and benefits, analyst reports, independent security tests and use cases to evaluate companies in the cybersecurity sector.
The largest cybersecurity companies by market cap shown below are all listed on the NASDAQ and NYSE. Stock data was current as of market close on January 9, 2025.
1. Microsoft (NASDAQ:MSFT)
Market cap: US$3.16 trillion
Share price: US$424.56
The largest cybersecurity company by market cap is Microsoft. The tech giant is a major player in the cloud security market, which includes cloud native application protection platform (CNAPP) products and services. In fact, Microsoft is the largest CNAPP solution provider, according to KeyBanc Capital.
Prominent cybersecurity firm Security Risk Advisors recently became a member of the Microsoft Intelligent Security Association.
2. Broadcom (NASDAQ:AVGO)
Market cap: US$3.16 trillion
Share price: US$424.56
Global technology firm Broadcom has built a large portfolio of embedded and mainframe security solutions, as well as payment authentication software.
The company broadened its offerings with the Symantec Enterprise Cloud in November 2019 with the acquisition of the enterprise software division of Symantec, which has since changed its name to Gen Digital (NASDAQ:GEN). Broadcom's Symantec offerings include secure access service edge technologies and zero-trust security.
3. Cisco Systems (NASDAQ:CSCO)
Market cap: US$235.78 billion
Share price: US$59.20
For a number of years now, Cisco Systems has increasingly invested in boosting its cybersecurity services. Today, the company offers an array of products for cloud security, endpoint security and security analytics. To address the cybersecurity skills shortage, Cisco offers certification programs for IT professionals.
In response to rising security risks in AI-powered applications, Cisco acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024.
4. IBM (NYSE:IBM)
Market cap: US$206.36 billion
Share price: US$223.18
IBM's security division offers customers an advanced and integrated portfolio of enterprise security products and services. IBM X-Force helps businesses and organizations integrate security solutions into their everyday functions and provides help with risk assessment, incident detection and threat response. The company is harnessing the power of AI to combat cybersecurity threats.
In May 2024, IBM announced new X-Force Red testing services that focus on identifying and mitigating vulnerabilities in generative AI applications and models. Like Cisco, IBM also offers cybersecurity certification programs.
5. Palo Alto Networks (NASDAQ:PANW)
Market cap: US$113.41 billion
Share price: US$172.83
Palo Alto Networks bills itself as “the global cybersecurity leader.” The company’s security portfolio includes advanced firewalls and cloud-based offerings that protect more than 80,000 organizations across their clouds, networks and mobile devices.
An example of its more recently launched offerings include Prisma Cloud, which integrates AI across various security domains, including network security, cloud security and security operations. In October 2024, Palo Alto expanded its offerings to the industrial sector.
6. CrowdStrike Holdings (NASDAQ:CRWD)
Market cap: US$88.36 billion
Share price: US$358.72
CrowdStrike Holdings is a software-as-a-service solutions provider. This team of cybersecurity professionals uses advanced endpoint detection and response applications and techniques in its machine-learning-powered antivirus protection offerings to ensure breaches are stopped before they occur.
This is another major cybersecurity company that is incorporating AI, adding it to its security information and event management (SIEM) offerings.
Its new AI-powered functions for its Falcon Next-Gen SIEM platform were first released in May 2024, including the integration of its Charlotte AI. Then, in July, CrowdStrike announced its Falcon Complete Next-Gen MDR service, which incorporates data from its SIEM platform and AI capabilities.
7. Fortinet (NASDAQ:FTNT)
Market cap: US$73.61 billion
Share price: US$96.04
Fortinet provides end-to-end cybersecurity infrastructure products and services, such as firewalls, antivirus tools, intrusion prevention and endpoint security. The company’s cybersecurity platform can address critical security challenges and can protect data across digital infrastructure systems, whether in networked, application, multi-cloud or edge environments. Fortinet's client base includes major sports teams, including the Vancouver Canucks NHL hockey team and the Pittsburgh Steelers NFL football team.
8. Zscaler (NASDAQ:ZS)
Market cap: US$28.74 billion
Share price: US$187.78
Cloud security company Zscaler’s Zero Trust Exchange platform can be used to secure user-to-app, app-to-app and machine-to-machine communications over any network. The company also offers cloud migrating services. Zscaler is known for setting the standard in the field of security service edge, and it claims the Zero Trust Exchange is the world's most-used security service edge platform.
In December 2024, the company expanded its partnership with IT services and consulting company Cognizant (NASDAQ:CTSH) as the pair work together to help enterprises address cyber threats by providing an advanced, AI-enabled zero trust cloud security platform.
9. Check Point Software (NASDAQ:CHKP)
Market cap: US$20.15 billion
Share price: US$183.19
Check Point Software is part of the unified threat management sector, and it offers a wide variety of products to protect users on mobile, networks and the cloud. It also provides users with various security management services to prevent future cyber attacks and data breaches.
Check Point acquired Avanan, a cloud email and collaboration security company, in 2021. At the end of 2024, technological research and consulting firm Gartner recognized Check Point as a leader in the 2024 Gartner Magic Quadrant for Email Security Platforms.
10. Okta (NASDAQ:OKTA)
Market cap: US$14.64 billion
Share price: US$85.46
Okta is an identity and access management company that provides cloud software solutions for managing and securing user authentication, as well as building identity controls into applications, website services and devices. The company is investing in AI technologies to monitor customer signals and proactively identify potential risks.
Gartner recognized Okta as a Leader in the 2024 Gartner Magic Quadrant for Access Management for the eighth consecutive year.
FAQs for cybersecurity
Is cybersecurity a growing industry?
Cybersecurity is a growing industry — according to Statista, it has a projected CAGR of 7.58 percent between 2025 and 2029, which will allow it to reach a market value of US$271.9 billion. The largest segment within the cybersecurity market is security services, while cloud security is forecast to experience the fastest growth.
What are the current trends in cybersecurity?
Today's top trends in cybersecurity include improvements in preventing and mitigating attacks against cloud services, growth in internet of things devices, the integration of artificial intelligence and machine learning, multi-factor identification and the increasing threat of deepfakes. Cybersecurity companies addressing these current issues in the market may have an advantage in attracting investor attention.
Which cybersecurity stocks pay dividends?
Very few cybersecurity stocks pay dividends; however, Cisco Systems and Juniper Networks (NYSE:JNPR) are two companies that offer dividend payments to their shareholders. Both pay quarterly dividends, with Cisco sporting an annual dividend yield of 2.7 percent, while Juniper Networks comes in at 2.29 percent. The average annual dividend yield for companies in the overall technology sector is 3.2 percent.
This is an updated version of an article first published by the Investing News Network in 2016.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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08 January
Cybersecurity Market Forecast: Top Trends for Cybersecurity in 2025
In today’s digital world, cybersecurity is not just important — it's essential.
The alarming rise in cyberattacks is fueling the demand for cybersecurity solutions; in 2024, we witnessed data breaches targeting large corporations such as AT&T (NYSE:T), Fidelity, Dell (NYSE:DELL) and Snowflake (NYSE:SNOW), and on January 1, 2025, the US accused China of hacking into the Office of Foreign Assets Control and the Office of the Treasury Secretary.
Not only is the frequency of cyberattacks growing, but they are costing companies more. In 2023, an IBM (NSE:IBM) research report found that the average data breach cost in the previous year was US$4.45 million. A 2024 report reveals that the price of a data breach had risen to US$4.88 million between March 2023 and February 2024, attributed primarily to business disruption and post-breach recovery efforts.
As a result, 23.5 percent of organizations surveyed for IBM’s report said they would increase security investments following a breach, and 63 percent said they would raise the price of goods and services as a result of increased cybersecurity spending.
With cyber threats becoming increasingly sophisticated and the cost of breaches skyrocketing, what investment opportunities are available for those looking to capitalize on this critical and growing market?
Market research paints a compelling picture. MarketsAndMarkets projects the global cybersecurity market size will reach US$298.5 billion by 2028, a compound annual growth rate (CAGR) of 9.4 percent from 2022. Grand View Research sets the bar even higher, projecting a market value of US$500.7 billion by 2030.
Both firms highlight emerging opportunities in areas of artificial intelligence (AI) and machine learning (ML) for threat detection and response.
North America, currently dominating the cybersecurity market, is poised for continued growth. In the US, Statista projects revenue growth at a CAGR of 7.12 percent between 2025 and 2029. Meanwhile, Mordor Intelligence estimates Canada’s cybersecurity sector will reach US$24.23 in value.
AI: Cybersecurity's double-edged sword
AI advancements are changing the threat landscape, requiring AI-powered cybersecurity solutions. While AI offers powerful tools to combat cybercrime, it also empowers malicious actors with new and sophisticated methods of attack.
The IBM report highlighted a concerning trend: customer personally identifiable information (PII) remains the most common target for cybercriminals. AI amplifies the potential damage caused by PII breaches, as attackers now have more tools to leverage this information. The report also determined that, despite the benefits of AI and automation in reducing breach costs, only 12 percent of organizations say they have fully recovered from a data breach. Experts foresee AI-powered attacks — along with ransomware, supply chain attacks, deepfakes, and cloud jacking — as major cybersecurity threats in the coming years.
The "weaponization of AI", such as the use of deepfakes and AI-replicated voices, also poses a growing threat, as Mark Fernandes, Global Chief Information Security Officer at CAE, emphasized at the Toronto Global Forum. This trend was substantiated in a report published by The Financial Times on January 1, 2025, that examined AI-generated phishing attempts targeting corporate executives.
Additionally, IBM found that shadow data, the unmanaged data within organizations, was involved in 35 percent of breaches and led to higher costs and longer breach lifecycles. To combat this, a multi-layered approach combining various technologies and strong data governance practices is crucial for effectively managing shadow data risks.
Modern cybersecurity programs leverage a combination of AI-powered solutions. AI-driven Attack Surface Management (ASM) provides continuous visibility into potential vulnerabilities, while AI-powered Security Information and Event Management (SIEM) automates threat detection. AI also enhances posture management by enabling automated red-teaming exercises to proactively identify weaknesses.
Palo Alto Networks (NASDAQ:PANW), for example, offers a platform approach with Prisma Cloud, integrating AI across various security domains, including network security, cloud security and security operations. The company projects its security offerings will lead to continued growth in the second quarter of 2025 after expanding its offerings to the industrial sector and acquiring a cloud-based version of IBM’s AI-enabled QRadar SIEM
CrowdStrike (NASDAQ:CRWD) progressively incorporated AI into its SIEM offering throughout 2024. The company unveiled new AI-powered functions for its Falcon Next-Gen SIEM platform in May 2024, then upgraded the model in July by integrating generative AI with its Falcon Complete Next-Gen MDR service, which co-monitors the IT environment with data collected by its SIEM system. Despite experiencing a major outage in July caused by a faulty update to the Falcon sensor software, CrowdStrike’s Falcon platform and AI integration earned the company the distinction of being named a leader and outperformer in the 2024 GigaOm Radar Report for Ransomware Prevention, with multiple research firms also recognizing CrowdStrike as an innovator in this sector.
Furthermore, AI can now automate red-teaming exercises, simulating attacks to identify vulnerabilities before real attackers do. In May 2024, IBM announced new X-Force Red testing services that leverage generative AI techniques to identify and mitigate vulnerabilities.
AI-driven automation that continuously analyzes security posture and recommends improvements helps ensure optimized defenses. However, organizations must extend their security posture management to encompass the AI models themselves. In AI-powered applications, a rising security risk is prompt injection attacks, where attackers insert malicious instructions to control AI models. Recognizing this need, Cisco (NASDAQ:CSCO) acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024. According to a press release announcing the deal, the acquisition will “serve as a safety layer for Cisco Security Cloud, providing AI applications and models with default protection.”
While AI provides powerful tools for threat detection and response, its effectiveness can be further amplified by integrating it with other technologies.
The power of blockchain in cybersecurity
Blockchain offers unique capabilities for securing data, building trust, and enhancing resilience through its secure and immutable record of transactions. Each block in the chain contains transaction data and a unique hash, relying heavily on cryptography to ensure data integrity and prevent tampering. This is particularly crucial in the realm of cryptocurrencies, where encryption prevents double-spending and secures the transfer of funds.
This gives blockchains major applications in securing digital identities, transactions and supply chains. Recognizing its potential, tech companies are investing in blockchain cybersecurity.
Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Oracle (NYSE:ORCL), and IBM are all making significant contributions to the field of blockchain cybersecurity. Microsoft’s Azure Confidential Ledger provides a highly secure environment for storing sensitive data, while Amazon, IBM and Oracle all offer enterprise-grade blockchain platforms and services to facilitate the development of secure applications for various use cases, including supply chain management and data sharing.
Companies like privately-held Guardtime are developing solutions to address existing challenges to implementing blockchain with cybersecurity, such as scalability issues faced by traditional blockchains like Bitcoin. Guardtime’s Keyless Signature Infrastructure (KSI) is based on a special kind of Merkel Tree — a data structure that allows for efficient verification of data integrity without needing to download the entire blockchain — called a hash calendar, which only records the hashes of data at specific time intervals.
Not only does this drastically reduce storage requirements, KSI doesn't rely on a Proof-of-Work consensus mechanism, eliminating the need for energy-intensive computations without compromising the speed of transaction processing.
The quantum leap in cybersecurity
Quantum computing, an emerging technology, utilizes the principles of quantum mechanics to perform calculations beyond the capabilities of traditional computers.
Quantum computing is based on qubits, which can exist in a state of superposition (being in multiple states at once until measured), unlike classical bits, which can be expressed as either 0 or 1. This allows quantum computers to process more data in less time than it would take traditional computers, giving them the potential to revolutionize cryptography.
Although NVIDIA (NASDAQ:NVDA) CEO Jensen Huang suggested that “very useful quantum computers” are likely still 20 years away, quantum computing poses both a risk and an opportunity for cybersecurity. Dr. Michele Mosca from the University of Waterloo's Institute for Quantum Computing argues that while quantum computing may initially appear to threaten cybersecurity by potentially breaking current encryption, it also presents an opportunity to establish stronger and more resilient security foundations for the digital economy.
Google (NASDAQ:GOOGL), a leader in quantum computing research since 2014 and the first to claim quantum supremacy in 2019, achieved a breakthrough with its Willow quantum processor at the end of 2024 when it demonstrated significantly improved error correction and scalability in quantum computing.
This brought the possibility of potentially breaking current encryption methods closer to reality and underscored the urgency of developing and implementing quantum-resistant solutions.
While established players such as IBM continue to advance quantum computing with platforms like Qiskit, new entrants like Quantinuum, backed by investors including JP Morgan (NYSE:JPM), are emerging to build quantum computers and develop applications for them.
Other companies like PQShield, ISARA Corporation and SandboxAQ are developing post-quantum cryptography (PQC) solutions using mathematical algorithms that are believed to be resistant to attacks from both classical and quantum computers. Sandbox AQ, which began as a team within Google, held its latest US$300 million funding round in December, bringing its valuation to US$5.3 billion.
Investor takeaway
The cybersecurity market is a compelling area to watch in 2025. Investors should focus on companies that are adapting to emerging trends, driving innovation and fostering collaboration to protect the future of the digital landscape.
Don’t forget to follow us @INN_Technology or real time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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17 December 2024
Growing AR Automation Market Offers Fintech Investing Option
In today's rapidly evolving business landscape, businesses are increasingly relying on accounts receivable (AR) automation, a technology revolutionising cashflow management and customer payments, to efficiently manage financial processes and streamline operations. This trend presents a unique opportunity for investors eyeing the next big wave in financial technology.
The pressing need for efficiency in financial processes, coupled with the complexities of global commerce, has created a fertile ground for innovation and growth in the AR automation sector.
Market indicators point to substantial growth potential in this arena. With projections suggesting a doubling of market size within the next decade, AR automation technology companies are poised to capture significant value.
AR automation landscape
AR automation platforms are designed to streamline the process of managing and collecting payments from customers. These systems leverage advanced technologies to help organisations significantly reduce manual tasks, accelerate collections and improve overall cashflow management. The benefits extend beyond mere efficiency; they contribute to better financial health and strategic decision-making capabilities for businesses of all sizes.
The automation of AR processes offers several key advantages:
- Reduction in manual data entry and associated errors
- Faster invoice processing and delivery
- Improved accuracy in payment reconciliation
- Enhanced visibility into cashflow and financial forecasting
- Better customer relationships through consistent and professional communication
Cross-border transactions and complexity
As businesses expand globally, the complexity of managing international payments increases exponentially. Educational institutions and enterprises with a global client base face particular challenges in this arena. The intricacies of dealing with multiple currencies, varying payment methods, and diverse regulatory requirements can be daunting.
AR automation platforms, such as those offered by IODM (ASX:IOD), are specifically designed to address these challenges. By seamlessly integrating with existing accounting systems, these platforms can handle the nuances of international transactions, ensuring smooth operations across borders. This capability is particularly valuable for universities managing tuition payments from international students and for businesses engaged in global commerce.
Market demand and growth potential
The demand for AR automation solutions is surging, driven by the increasing cost of doing business, the need to remain competitive and improve cashflow. This trend is particularly pronounced in sectors like education and global commerce, where the volume and complexity of transactions necessitate sophisticated management tools.
Recent market research paints a compelling picture of the growth potential in this sector:
- The global AR automation market is projected to grow from US$3.2 billion in 2021 to approximately US$6.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of about 10 percent.
- Some forecasts suggest the market could reach US$6.7 billion by 2032, with a CAGR of 10.18 percent from 2024 to 2032.
This robust growth trajectory underscores the increasing recognition of AR automation as a critical tool for modern businesses. For investors, this represents a significant opportunity to participate in a sector that is fundamentally reshaping financial operations across industries.
IODM: Targeted strategy
IODM, an Australian company founded in 2008, exemplifies the trends and opportunities in the AR automation space. The company’s flagship platform, IODM Connect, leverages cutting-edge technology to enhance cashflow management for medium to large enterprises.
IODM's successful track record in handling international payments and forming strategic partnerships has positioned it as a significant player in the market. The company's focus on addressing the needs of sectors dealing with complex cross-border transactions, such as universities and large enterprises with international clients, demonstrates the targeted approach that successful AR automation providers are taking.
Key features of IODM's solution that address specific sector needs include:
- Integration of machine learning and robotic process automation
- Seamless integration with existing accounting systems
- Customisable workflows to match unique business processes
- Multi-currency support for international transactions
As IODM continues to expand its global presence, with offices across Asia, Europe and the USA, it serves as a prime example of the growth potential within the AR automation sector.
Investor takeaway
The rising importance of AR automation in modern business is clear. As companies increasingly recognise the benefits of streamlining their financial processes, the demand for sophisticated AR automation solutions is set to grow substantially. This trend is particularly evident in sectors dealing with complex, cross-border transactions, such as education and global commerce.
For investors, the AR automation market presents a compelling opportunity, with projected growth rates indicating a doubling of market size within the next decade. Companies at the forefront of this technology stand to benefit significantly. Providers that can offer tailored solutions for specific industry needs are well positioned to capture a share of this expanding market.
This INNSpired article is sponsored by IODM (ASX:IOD).This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by IODM in order to help investors learn more about the company. IODM is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with IODM and seek advice from a qualified investment advisor.
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13 September 2024
Microsoft Plans to Reduce Kernel-level Operations for Cybersecurity Vendors Post-outage
Microsoft (NASDAQ:MSFT) announced it is developing a new platform aimed at helping cybersecurity firms operate without accessing the kernel mode of its Windows operating system.
Bloomberg reported that the company’s move comes after an incident in July when an update from CrowdStrike Holdings (NASDAQ:CRWD) caused a widespread outage affecting millions of Windows computers.
On Tuesday (September 10), Microsoft held a meeting with cybersecurity firms to discuss the potential risks of allowing third-party security vendors to access the kernel, the core part of its operating system.
During this meeting, discussions focused on finding ways to reduce the likelihood of future incidents similar to the July outage, which disrupted operations for several industries, including airlines, banks and healthcare providers.
This sparked a debate about whether security vendors should have access to the kernel, as such access carries significant risks when updates or other changes malfunction. The kernel is the core component of an operating system that manages system resources and facilitates communication between hardware and software.
Microsoft is now seeking to find alternative ways for cybersecurity companies to operate while protecting customers. The company will be designing and developing new systems to address concerns raised by both customers and partners. It intends to offer greater reliability without compromising the security functions required by cybersecurity firms.
By moving away from kernel-level operations, Microsoft hopes to reduce the possibility of global outages while still providing robust protection against cyber threats.
Company executive David Weston reiterated this stance during a cybersecurity summit, stating that collaboration with industry players is essential for ensuring a safer and more reliable digital environment. “Both our customers and ecosystem partners have called on Microsoft to provide additional security capabilities outside of kernel mode which, along with safe deployment practices, can be used to create highly available security solutions,” he said.
Weston added that the company is committed to working with cybersecurity vendors to develop solutions that protect users while minimizing risks associated with kernel access.
CrowdStrike, which was at the center of the July incident, expressed its willingness to participate in ongoing discussions with Microsoft and other industry leaders to improve cybersecurity protocols.
The July incident impacted approximately 8.5 million devices, leading to widespread disruptions.
Delta Air Lines (NYSE:DAL), one of the companies most affected by the outage, has since announced that it is pursuing legal action against both CrowdStrike and Microsoft. The airline estimates that the outage cost it more than US$500 million due to flight cancellations and other operational challenges.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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08 August 2024
Adisyn Eyes Underserved SME Market for Tech, Cybersecurity Solutions
Adisyn (ASX:AI1) is doubling down on its SME-focused business strategy, leveraging a multibillion-dollar defence industry supply chain and a highly underserved market.
Managing Director Blake Burton talked to the Investing News Network about the driver for this business strategy.
“There's all these investments coming through. All these (small- and medium-sized) businesses are supplying to defence, (and) manufacturing for defence. But, for lack of a better word, they're clueless when it comes to cybersecurity, protecting their data, making sure they're compliant. So we kind of said, this is a really exciting segment of the market to be targeting,” he said.
“When it comes to cybersecurity, when it comes to tech, it's like a second language to (SMEs). So that's our bread and butter, right? That's what we've always focused on. That's what we're pushing ahead with moving forward," Burton added.
He also spoke about Adisyn’s binding collaboration agreement with 2D Generation to develop transformational opportunities in the artificial intelligence (AI) space. The agreement leverages Adisyn’s expertise in data centre management, managed IT services and cybersecurity, and 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions.
“Definitely watch this space, because … it's going to be, within 10 years, like a trillion-dollar market. So if we can kind of add our expertise to 2D Generation, I think that's definitely going to be one to watch,” Burton said.
Watch the full interview with Adisyn Managing Director Blake Burton above.
Disclaimer: This interview is sponsored by Adisyn (ASX:AI1). This interview provides information which was sourced by the Investing News Network (INN) and approved by Adisyn in order to help investors learn more about the company. Adisyn is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Adisyn and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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19 July 2024
Tech 5: CrowdStrike Outage Causes Major Disruptions, Tech Stocks Face Turmoil
Markets reacted to the attempted assassination of Former US President Donald Trump, with analysts predicting it could increase his re-election odds.
Meanwhile, a global tech outage disrupted systems across multiple industries, and Bitcoin and Ether prices fluctuated, influenced by factors such as the likelihood of Ether exchange-traded funds (ETFs) being approved by next week.
Stay informed on the latest developments in the tech world with the Investing News Network's round-up.
1. US markets fluctuate amidst political turmoil and rate-cut speculation
At the start of the week, markets reacted to the aftermath of an assassination attempt on Trump, with analysts predicting that it could increase his odds of re-election in November.
Against that backdrop, US Federal Reserve Chair Jerome Powell addressed the Economic Club of Washington, remarking that recent inflation readings, including last week’s data, “do add somewhat to confidence."
In Canada, Tuesday’s (July 16) consumer price index reading showed a 2.7 percent year-on-year increase in June, down from 2.9 percent in May, prompting discussions of a potential second interest rate cut in July. The S&P/TSX Composite Index rose even higher to a close of 22,995.39, a fourth consecutive record high close.
Multiple US indexes performed positively that day, with the Dow Jones Industrial Average (INDEXDJX:.DJI) also reaching a new all-time closing high of 40,954.48. The Russell 2000 Index (INDEXRUSSELL:RUT) scored its fifth consecutive winning streak, its longest since 2000. The S&P 500 (INDEXSP:.INX) also closed up on Tuesday. However, the Nasdaq 100's (INDEXNASDAQ:NDX) gains were limited by weaker performances from mega-cap stocks such as NVIDIA (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT) as small caps extended their rally.
Chip stocks fell on Wednesday (July 17) after a report revealed that the Biden administration is considering further trade restrictions against China. The news brought the PHLX Semiconductor Sector (INDEXNASDAQ:SOX) down by 6.8 percent, its biggest one day drop since March 2020. Compounding the downturn was the revelation of comments made by Trump regarding Taiwan paying the US for its defense against China.
Stocks closed lower across the board as a result, apart from the Dow Jones, which ended at a new record high of 41,198.08 for the third day in a row. The Nasdaq and S&P 500 closed 2.8 and 1.4 percent lower, respectively, led by losses to NVIDIA and Apple (NASDAQ:AAPL). The S&P/TSX Composite Index experienced a decline of 0.6 percent, leaving it at 22,851.17 and bringing an end to its run of consecutive record-breaking closing highs.
Taiwan Semiconductor’s (NYSE:TSM,TPE:2330) quarterly results, released on Thursday (July 18), helped lift the Nasdaq and S&P 500 at the open; however, the gains were reversed as the VIX (INDEXCBOE:VIX) reached its highest level since early May, triggering a selloff. By the end of the day, the Dow Jones had fallen 1.29 percent, the S&P 500 had lost 0.78 percent, the Nasdaq had dropped 0.7 percent and the S&P/TSX Composite Index was down 0.5 percent.
On Friday (July 19), Wall Street’s main indexes opened lower as a global tech outage impacted all sectors. This ended a turbulent week that represented the Nasdaq and S&P 500’s worst since April, feeding fearful investor sentiment toward tech stocks. At the closing bell, the Dow Jones was down 0.93 percent, the S&P 500 dropped by 0.71 percent, the Nasdaq fell 0.81 percent and the Toronto Stock Exchange’s S&P/TSX Composite Index slid by a modest 0.2 percent.
2. Tech outage disrupts industries around the world
A global tech outage caused by CrowdStrike (NASDAQ:CRWD) disrupted systems across multiple industries early on Friday, causing delays to operations in banking, healthcare and media, as well as impeding air travel schedules.
The event was triggered by an update to CrowdStrike’s Falcon Sensor software, a component of the cybersecurity firm’s security operations center platform designed to detect viruses and cyber threats running on Windows operating systems.
CrowdStrike sent an alert to its clients at 5:30 a.m. GMT, and soon after released a statement on its website.
"Today was not a security or cyber incident. Our customers remain fully protected," CrowdStrike CEO George Kurtz reassured users via a post on X, formerly known as Twitter, some hours later.
CrowdStrike promptly identified the root of the cause to be a defect in a content update for Windows hosts. The company began working on solutions to address the issue, with full instructions and resources available on the company’s blog. However, the impact of the crash reverberated across governments and organizations around the world, and the time it took for the fix to be fully deployed depended on individual circumstances.
For devices simply requiring a reboot to apply the update, the solution was able to be swiftly applied. In other cases, the longer process of a manual intervention was required. The length of time also depended on the size and complexity of an organization’s IT infrastructure, as the solution would need to be applied across all systems.
The situation was still unfolding as of 7:00 p.m. EDT on Friday.
3. Bitcoin, Ether prices advance
Bitcoin and Ether showed notable price fluctuations at the start of the week, with both growing by approximately 5 percent in 24 hours, starting the week at US$62,732 and US$3,350, respectively, at 9:00 EDT. The rally was attributed to the perceived higher probability of a Trump victory in the wake of the assassination attempt and the increasing likelihood of Ether ETFs being approved. Ether’s price continued to rise throughout the day, peaking at US$3,489 at 20:00 EDT.
On Tuesday, Bitcoin was priced at US$63,774 and Ether at US$3,409 just before the opening bell. Both experienced volatility through the day and were valued at US$65,144 and US$3,480, respectively, at the closing bell.
Meanwhile, Farside data shows a record daily inflow of US$422 million into spot Bitcoin ETFs on Tuesday, causing the price of Bitcoin to surge 3 percent overnight to US$65,200. Ether also saw significant gains of 2 percent.
A modest devaluation was observed on Wednesday at 9:10 EDT, with Bitcoin valued at US$64,734 and Ether at US$3,46.
Glassnode data released on Wednesday shows that balances across US spot Bitcoin ETFs had reached 900,636 Bitcoin worth more than US$63 billion. As of July 18, the combined cryptocurrency market cap was up 12 percent despite volatility observed throughout the week. Bitcoin was priced at US$63,514 and Ether at US$3,407 at 14:00 EDT.
Friday’s global tech outage, which had a widespread impact, had virtually no effect on the crypto industry, underscoring the strength of decentralization. Despite a dip in price Friday morning — US$64,332 for Bitcoin and US$3,411 for Ether at 9:05 EDT — on the heels of renewed speculation regarding US President Joe Biden’s position as the Democratic nominee, the price of Bitcoin rose to US$67,265 at 16:05 EDT on Friday, while Ether rose to US$3,523.
4. Google may bet on cybersecurity in record-breaking deal
CNBC reported on Sunday (July 19) that Alphabet’s (NASDAQ:GOOGL) Google is in early negotiations to acquire Wiz, a cybersecurity firm. Sources did not provide details, only disclosing that the deal is expected to close “soon.”
In May, Wiz was rumored to be gearing up for an IPO, at which time it had a valuation of US$12 billion. The company’s comprehensive cloud presence offers an attractive solution for large enterprises with substantial computing requirements, allowing them to efficiently manage and optimize their digital infrastructure.
The deal, reported to be worth US$23 billion, would be the largest acquisition in Google’s history and would give the company an advantage over competing cloud providers like Amazon (NASDAQ:AMZN) and Microsoft.
5. SEC sets launch date for Ethereum ETFs
Ethereum saw a significant increase in its valuation after Nate Geraci took to X to weigh in on his prediction regarding the highly-anticipated approval of Ethereum ETFs on Sunday afternoon.
“Welcome to spot eth ETF approval week … I’m calling it. Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point. Issuers ready for launch,” he posted, prompting a 5 percent price increase for Ethereum in six hours. Geraci is co-founder of the ETF Institute.
The next day, Bloomberg ETF analyst Eric Balchunas confirmed Geraci's prediction:
“Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday (July 15) after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course!”
On Wednesday, the US Securities and Exchange Commission (SEC) further stirred enthusiasm by approving the Grayscale Mini Spot Ether ETF. “After careful review, the Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange,” the SEC said in a document. “It is therefore ordered… that the proposals be, and hereby are, approved.
On Friday, the Chicago Board Options Exchange announced that the Franklin Templeton Ethereum ETF will commence trading as a novel listing on July 23; however, the launch would be contingent upon regulatory approval.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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