Investing

Equifax (EFX) leak & insider selling

  • Last Updated:
  • Sep 27th, 2017 6:01 pm
[OP]
Deal Addict
Jun 3, 2009
3740 posts
452 upvotes
Montreal

Equifax (EFX) leak & insider selling

Equifax reports massive cyberattack; shares down 6% after hours:

https://seekingalpha.com/news/3294289?source=ansh $EFX

Three Equifax execs sold stock before breach was revealed; shares -12.4%

https://seekingalpha.com/news/3294312?source=ansh $EFX

Is anyone else considering going buying this dip in the near future? If HD and TGT survived similar breaches, why wouldn't EFX too? Transunion doesn't seem like a worthy competitior.
14 replies
Deal Addict
Nov 9, 2013
1907 posts
666 upvotes
Edmonton, AB
I'm thinking about it yes, but need to do more DD before pulling the trigger.

On the other hand, what does it say about the intrinsic nature of the business - credit reporting and monitoring - if they can't even protect themselves from a data breach.

It'd be like going to the doctor for heart surgery while he / she is having a heart attack.
Sr. Member
Aug 19, 2016
745 posts
259 upvotes
treva84 wrote:
Sep 7th, 2017 9:42 pm
It'd be like going to the doctor for heart surgery while he / she is having a heart attack.
Although funny, but doesn't apply. The doctor can't do anything while having a heart attack. Not even giving you a hug.


It is like going to see a financial advisor to seek financial advices. However, the financial advisor himself is in huge debt (consumer debts). This example is better because the FA can still give you advices while he is in huge debts.
Newbie
Apr 23, 2017
94 posts
41 upvotes
cn_habs wrote:
Sep 7th, 2017 8:09 pm
If HD and TGT survived similar breaches, why wouldn't EFX too?
Because HD and TGT have actual businesses only tangentially related to securing people's personal data - their core business was not undermined by a security breach but EFX's core business is directly related to security. This demonstrates that they are incompetent and I for one wouldn't invest in them or use their services after this revelation.
Sr. Member
Oct 11, 2010
906 posts
269 upvotes
Charlottetown
It may end up being an ok investment but I for one will not invest in a company this reckless
[OP]
Deal Addict
Jun 3, 2009
3740 posts
452 upvotes
Montreal
It's down over 10% today so there's still too much down side left IMHO. The company may end up going belly up and lawyers are the only winners in this scandal.
Deal Addict
Nov 22, 2004
1174 posts
237 upvotes
As per Wikipedia, Canadians were affected in the leak and 44 million British residents as well. Haven't heard much on that side. Either way, it's not looking good at the moment.
Heatware: 9-0-0
Realtor @ Royal LePage United Realty
[OP]
Deal Addict
Jun 3, 2009
3740 posts
452 upvotes
Montreal
Clueless Fox wrote:
Sep 14th, 2017 7:39 pm
As per Wikipedia, Canadians were affected in the leak and 44 million British residents as well. Haven't heard much on that side. Either way, it's not looking good at the moment.
Many Canadian CAA members have been affected by the leak too. The numbers will only grow over time IMHO.
Jr. Member
Jul 4, 2017
183 posts
24 upvotes
MekaRein wrote:
Sep 8th, 2017 1:31 am
Going to wait the 3 day rule on this one to invest a bit
What's the 3 day rule?
[OP]
Deal Addict
Jun 3, 2009
3740 posts
452 upvotes
Montreal
setsunafseiei wrote:
Sep 27th, 2017 1:04 am
What's the 3 day rule?
It's an unwritten rule that states an investor should at least wait 3 days before buying into a stock that's been sold off. I don't think if there's any scientific reason behind it though.
Jr. Member
Jul 4, 2017
183 posts
24 upvotes
cn_habs wrote:
Sep 27th, 2017 5:50 pm
It's an unwritten rule that states an investor should at least wait 3 days before buying into a stock that's been sold off. I don't think if there's any scientific reason behind it though.
What's the rationale? to let it stabilize a bit/go as low as it can go?

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