Author Topic: Equifax - When to Buy?  (Read 1499 times)

cantgrowone

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Equifax - When to Buy?
« on: September 15, 2017, 09:16:25 PM »
Due to the recent hack on Equifax the stock price has fell 34% this month. Surely they are set for a rebound. I'm tempted to throw in $1k and see what happens.

Does anyone plan to take or have taken the gamble of buying this stock?

P.S. I hate gambling but can afford to lose.

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fattest_foot

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Re: Equifax - When to Buy?
« Reply #1 on: September 15, 2017, 09:31:24 PM »
I wouldn't assume they'll bounce back.

With how big a disaster this is, there's a good chance they could fold; either by losing all their business, or being sued into irrelevancy.

maizeman

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Re: Equifax - When to Buy?
« Reply #2 on: September 15, 2017, 09:49:35 PM »
If they'd fallen 90% I might be tempted. 34% seems like an under reaction. Their liability is potentially huge and it's pretty clear they weren't doing proper due diligence.

One of their web servers was secured with an account with the user name and password both set to "admin."
Their chief information security officer was a music major.

Heckler

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Re: Equifax - When to Buy?
« Reply #3 on: September 16, 2017, 03:00:59 AM »
Im pretty sure I own it in one or two of my indexes.

Mr Griz

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Re: Equifax - When to Buy?
« Reply #4 on: September 16, 2017, 04:46:29 AM »
Im pretty sure I own it in one or two of my indexes.

+1

Indexer

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Re: Equifax - When to Buy?
« Reply #5 on: September 16, 2017, 07:17:46 AM »
If they'd fallen 90% I might be tempted. 34% seems like an under reaction. Their liability is potentially huge and it's pretty clear they weren't doing proper due diligence.

One of their web servers was secured with an account with the user name and password both set to "admin."
Their chief information security officer was a music major.

Exactly. In addition, the security flaw in the web software the hackers used to get the data was identified months in advance, but Equifax never did the recommended update to fix it.

They also knew about the hack for 6 weeks before they said anything. That means hackers were running around with nearly everyone's data for 6 weeks before anyone knew they needed a credit freeze.

PizzaSteve

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Re: Equifax - When to Buy?
« Reply #6 on: September 16, 2017, 08:11:21 AM »

Catching a falling knife is tricky business.
« Last Edit: September 16, 2017, 02:42:22 PM by PizzaSteve »