Why Okta Stock Fell 20% This Week
Shares of the cybersecurity company Okta (NASDAQ: OKTA) tumbled nearly every day this week after new information about a hack of the company's platform, that occurred two months ago, emerged.
The tech company issued several statements throughout the week, but none of them appeared to ease investors' fears. As of this afternoon, Okta's stock had fallen 21% since last Friday, according to data from S&P Global Market Intelligence.
Earlier this week it was reported that the Lapsus ransomware group (also known as Lapsus$) had hacked into Okta's cybersecurity system back in January. The hackers posted screenshots online to seemingly show that they had access to some parts of Okta's system.
Source Fool.com
