Cyber stocks riding high amid growing hacks

Cybersecurity companies are seeing positive gains in the stock market following the massive hack of Anthem and other serious data breaches.

The exchange-traded fund for cyber firms — known by the ticker symbol HACK — rose nearly 17 percent in February, according to CNN Money. 

{mosads}Stock values for individual firms are also surging.

Share in FireEye, which owns forensics unit Mandiant, rose 34 percent this month. The company said its fourth-quarter revenue is up 150 percent over last year.

CyberArk stocks gained nearly 90 percent in February, a good sign for the company’s focus on privileged account security.

Stocks in Palo Alto Networks, which offers next-generation security firewalls, were near an all-time high as analyst forecast a marked jump in earnings per share.

The rise in values indicates firms’ booming business as companies around the world seek to strengthen their cyber defenses. Companies are also retaining firms to help once they have been hacked.