Why Ubiquiti Stock Is Falling Today
Shares of Ubiquiti (NYSE: UI) traded down more than 10% on Wednesday following a report claiming the maker of cloud-enabled Internet of Things devices downplayed a recent security breach.
In January, Ubiquiti sent emails to customers notifying them of a recent security breach, saying certain user information such as names, email addresses, and passwords were potentially accessed. But according to a whistleblower, the company downplayed what was actually a "catastrophic" incident.
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Source Fool.com