Why Palo Alto Networks Stock Zoomed Almost 7% Higher Today

Yahoo Finance ·

Tuesday's stock trading session was marked by a notable shift, as tech investors sold legacy software companies and moved into next-generation hardware makers and cybersecurity titles. That, plus a new cybersecurity warning from top-level government agencies, greatly benefited cybersecurity segment mainstay Palo Alto Networks ( PANW +6.94% ) . The company's equity rose by nearly 7% that day. That warning was issued by a clutch of federal government security organizations led by the Cybersecurity and Infrastructure Security Agency (CISA), and including the National Security Agency (NSA) and the Federal Bureau of Investigation (FBI). These were joined by international counterparts. The agencies cautioned that "Russian cyber threat actors are targeting vulnerable networking devices in critical infrastructure sectors globally, especially communications, defense industrial base, energy, financial services, government services and facilities, and healthcare and public health."

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