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By SecureWorld News Team
Thu | May 18, 2017 | 3:30 AM PDT

Bad news is good for business.

Channelnomics reports:

Cybersecurity vendors saw their share prices spike on Monday after the global ransomware attack that started in the UK escalated over the weekend.

This global panic saw a sharp spike in share prices for a number of security firms when stock exchanges reopened Monday.

Palo Alto Networks, Check Point, Trend Micro and Cisco shares were all up over two percent at closing on Monday. Symantec was up over three percent, Sophos was up more than five percent, Proofpoint and FireEye were both up over seven percent and Mimecast was up around 11 percent.

Indraneel Arampatta, an analyst at Megabuyte, told Channelnomics' UK sister title that the swell was most likely caused by traders predicting a flurry of business to vendors from end users fearing future attacks.