Fireeye’s stock price has been on a roller coaster ride in recent months, and the ride doesn’t seem to be slowing down anytime soon. The cybersecurity company’s stock price was up more than 10% on Monday morning after news broke that it had discovered a new malware strain.
The new malware, which has been dubbed “DarkHotel” by Fireeye, is a sophisticated piece of malware that has been used to target high-profile business travelers. The malware is believed to have been in circulation since at least 2014, and it targets travelers who connect to hotel Wi-Fi networks.
Once the malware is installed on a victim’s device, it can be used to steal sensitive information, such as login credentials and financial information. The malware can also be used to launch attacks against the victim’s company.
Fireeye’s stock price has been volatile in recent months, and the DarkHotel news is likely to add to the volatility. The stock was up more than 10% in early trading on Monday, but it is still down more than 30% from its 52-week high.
Fireeye is not the only cybersecurity stock that has been volatile in recent months. The sector as a whole has been under pressure, as investors have become increasingly concerned about the growth prospects for the industry.
The sector was dealt a blow last month when the U.S. government announced that it was scaling back its use of Kaspersky Lab’s products. The move followed allegations that Kaspersky Lab’s software could be used by the Russian government to conduct espionage.
The Kaspersky news weighed on the shares of other cybersecurity companies, including Fireeye. But the sector has shown signs of life in recent weeks, and Fireeye’s stock is up more than 15% from its lows.
Fireeye’s stock price is likely to remain volatile in the near term, as investors react to the latest news. But the company’s long-term prospects remain strong, and its stock is still a bargain at current levels.