For those of you who are unaware, Equifax has just fallen victim to one of the greatest breaches of personal information in recent history. In fact, when all is said and done, this breach of personal information may be one of the worst, if not the worst in history. Everything from the credit card information, to the social security numbers, and even driver’s license numbers of over 140 million Americans were hacked and stolen by criminals.
Initial data of the breach was first discovered in July of 2017, yet was only disclosed to the public on September 7th, 2017. While this was some seriously bad news, it only got worse here for Equifax. This Monday, September 18th, news of a much earlier breach of information, dating all the way back to March, was released. In just 10 days, EFX has dropped from a healthy 140 dollars per share, to now just above 90 dollars per share.
So what does this all mean? It means that there is an opportunity here and people have already taken advantage. Buying or selling EFX at this stage in the game is quite risky being that the situation is simply so volatile. However, in my personal opinion, I believe the stock will plunge lower and lower as more news unfolds. This incident is in its fetal stages, and more bad news is likely to be revealed, and shared, driving the price further down. The verdict? SHORT.
To see how you can protect your data and how to find out if you were affected, click here.