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Long/short equity

Why The Target Data Breach Is Bad News For LifeLock

LifeLock (NYSE:LOCK) shares hit an all-time high on Monday as more details surrounding the Target (NYSE:TGT) data breach have trickled out. In total, LifeLock shares have rallied 13% following the original announcement of the data breach at Target on December 19. Reports of data breaches at other retailers, including Neiman Marcus (as well as others, which have not yet been named) have followed. In total at least 110 million (Target alone is responsible for the breach of up to 110 million people's information) consumers' information has been compromised (representing 33% of the total US population and 40-45% of the adult card-holding population). Investors clearly expect LifeLock to benefit from heightened concerns over credit/debit card...

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