Normally, when you hear about stocks dropping, it’s due to some scandal or crisis. Market watchers will tell you that a range of elements can affect the value of a publicly traded company and cause stock prices to rise or fall. Consumer confidence is a major factor that influences a company’s reputation and perceived value.
What does that have to do with data breaches? A lot more than you might think.
Startups and SMBs undergoing a digital transformation aren’t the only ones having issues. Yahoo and Amazon have experienced record-breaking breaches that cost the companies millions of dollars and damaged their reputations. One of the hardest hit industries is health care, where millions of patient health records are infiltrated each day.