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Why Okta Stock Bounced Back on Monday
Shares of cloud-based cybersecurity company Okta (NASDAQ: OKTA) snapped a five-day losing streak on Monday, shooting up 8.3% through 3:10 p.m. ET. The reason: Okta filed an official update on its findings about the well-publicized hack of its systems that was revealed last week — and according to Okta, it’s just not that big of a deal. As Okta explained in an 8-K filing with the Securities and Exchange Commission (SEC), published Friday after close of trading, “there was a five-day window of time between January 16-21, 2022 when [a] cybercrime group had access to … a computer used by a customer support engineer employed by a third-party vendor that supplies customer support services to Okta.”
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