Microsoft estimates there are nearly 600 million cyberattacks globally every day.
What’s even more staggering is the cost. Cybersecurity Ventures estimates global cybercrime damage costs to reach $10.5 trillion this year.
Money & Markets looks at this from an investment perspective. They examined the Amplify Cybersecurity ETF (NASDAQ: HACK), which invests in companies within the cybersecurity industry and tracks the performance of the ISE Cyber Security Select Index.
HACK has increased more than 34 percent in the last 12 months, while the S&P 500 has only gained 10.6 percent.
Is it time to invest in the HACK ETF? Surprisingly, the answer may be no, according to Matt Clark, chief research analyst at Money & Markets.