Why Symantec Corporation Stock Surged 30% So Far in 2017

Shares of Symantec (NASDAQ: SYMC) are up more than 30% since the beginning of the year, according to data provided by S&P Global Market Intelligence.

Symantec began the year with the wind at its back following a 40% surge in the number of U.S. data breaches in 2016, as reported by the Identity Theft Resource Center and CyberScout. The cyber damage has continued in 2017, most notably when the "WannaCry" ransomware attack hit more than 200,000 computers in at least 150 countries in May.

These attacks have ushered in a period of heightened awareness among government organizations, businesses, and individuals regarding the serious threat cyber attacks pose. In turn, Symantec is enjoying strong demand for its cybersecurity offerings.

Source: Fool.com