Why SolarWinds Stock Got Crushed Today

Shares of SolarWinds (NYSE: SWI) have gotten crushed today, down by 17% as of 12:05 p.m. EST, after hackers were able to attack multiple U.S. federal agencies by compromising SolarWinds' systems. The malicious actors are believed to have ties to the Russian government.

Cybersecurity technology company FireEye, which itself was the target of a cyber attack earlier this month, said in a blog post yesterday that it had discovered a widespread intrusion campaign targeting SolarWinds' Orion platform, which provides IT monitoring and management services to enterprise and government customers. The hackers were able to attack SolarWinds' supply chain in order to insert malware into an Orion software update as early as this spring, according to FireEye.

Image source: Getty Images.

Continue reading

Source Fool.com