VRNS - Biden's cybersecurity order means new boon for enterprise cloud stocks - Wedbush

President Biden has signed an executive order to bolster U.S. cybersecurity after the ransomware attack at Colonial Pipeline - and that's giving Wedbush's Dan Ives another chance to tout potential beneficiaries in the enterprise software sector. The move could mark an inflection point for the group, he says; "Clearly the federal government has reached a tipping point around beefing up its cyber security protection in a strategic move long overdue. This move will have a crossover impact into the private sector as well and ultimately benefit the pure-play cyber security vendors in our opinion with new standards now in place." The pipeline attack follows fairly closely on the SolarWinds hack, marking two major, "brazen" nation-state attacks on core infrastructure in six months. And Ives says he's "befuddled" by the lack of core next-gen security infrastructure in place around utilities and other key federal assets. The shift to the cloud has

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Biden's cybersecurity order means new boon for enterprise cloud stocks - Wedbush