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SHORT HARD MOFO!!! BURN BABY BURN!!!
IMO
Compare this new to 9/11 on airline stocks. Airline stocks drop just below the 200 month moving average before a decent bounce back to the 50 month average.
Probably 65% drop to $50 wait 20 trading days. On the monthly chart 200 month average is about $50 also.
Biggest loser stock ever. I'm talking trash
I live outside Chicago, the Phoenix police called me they had a huge bust 2-weeks ago and found drives if personal info including mine, they said it appeared to have been purchased on the dark web, and then this news came out. I hope the sue the brakes off of them.
~Yeah. Logical summation. Class action lawsuits up to 20 now.
Matter fact, you can file lawsuit through "Donotpay.com" for Pete's sake.
Bonds selling off etc. Not pretty.
How do you limit the loss of 143 Million consumers data due to a fixable web server flaw.
None of the dozen of people I know will ever have secure personal data again It was not just one piece of date it was everything needed to create a false identity for as many as 143 Million..
ENRON IS A GOOD COMPARISON HERE.
Look at that EFX below $100 this week at predicted, in fact low of $89.59 was the low. Looks like $60 may be very likely soon.
How does a company survive breaching 143 Million peoples Drivers licenses, Social Security Number, Date of Birth and Accounts?
If each person received $100 as damages thats 14 Billion.
If each person received $1000 is $140 Billion
The thing is many states allow for $10 to 50K in damages for identity theft, not to mention SEC insider trading, State Attorney General Fines, Ect.
Is this the perfect short. I maintain neither position, but think this company made a terrible mistake that is without any excuse of reason.
Dilution, SEC fines, Attorney General Awards, Even before paying one dime to 143 Million potential plantiffs.
Yeah honestly they came across as pumping their own position.
~Lol! "Eat em up" cause they bought dip. Lol
Analysts on CNBC advised to eat up the $90s, just went from $93's to 98 and that EFX likely has insurance to cover a lot of the liabilities.
Shorted yesterday 101.50 on 115 shares plus 1,300
I'm going to wait to add another short position, there actually seems to be buyers in PM like Tuesday when it actually bounced $6-$7...but it's just temporary IMO.
Not surprised if this is just tip of the iceberg & more bad news to come. Would not touch this until $40/$30 where strong support is.
OMG when is the bleeding going to stop...Is it to late to Short? I thought after day 1 the selling would be over.. I'm going for it..
Those 3 mangers that sold must shitting in their fruit of the looms.
How can they possibly get away with that one?
Actually a little surprised it has not tanked to $95 yet in AH.
Good, hopefully it tanks in the ground
115 shares short @ 101.50--- My EQUIFAX credit score is 801!!!!!!!!!!!!!!! Am I in the top 5 percent of all in this country?
Covered short for now $102, might bounce somewhere then short the POS again.
If it breaks the $103, hello $90 IMO
Thanks.
Looking like EFX is saying it uses open source code to verify its customers. Note that Pay-Pal is designed so that sellers do not get
buyers info credit access. <---just that the transaction is completed and verified as to both parties receiving their end of funding transaction.
Why not the same thing for credit report . . . just the score provided
and transaction data is verified? Should also be fingerprint and facial
recognition system from inquirer to credit report history request, taken from customer applying for credit report purchase?
EFX is trying to claim no responsibility for errors or improper monitoring of its security oversight, and may have hard time explaining how its security breach happened.
Using 3rd party (often overseas or HIB employment systems involved); is asking someone in desperate economic and social conditions not to want to steal useful data that can be resold to help them and their families
survive in brutal everyday conditions. It would be abnormal for them not to do it.
All important info transactions should not be directly handled by humans . . . using AI data transfers is absolutely necessary.
Block Chain technology can be used as verification that all parties involved approve the transaction as accepted and completed as per procedure guidelines.
Thusly, it would be near impossible for an AI Cloud system using a ultra-high speed security key cyber, to be hacked by anyone less than using a
superior memory speed circuit system. National governments would be immediately alerted and the offender sourced.
There is no way other to provide a world economy that is robust and safe for all. It would amount to a universal code of commercial manners acceptable by all.
Where Could Equifax Inc (NYSE:EFX) Make Landfall?
Last week, it was reported that the leading credit services company Equifax Inc (NYSE:EFX) faced a severe data breach. The breach could impact 143 million U.S. consumers. This news sent the stock price of the company tumbling lower. The stock was trading at around $140.00 a share before the news of the data breach. Today, EFX stock is trading at $111.22 a share.
Traders and investors should note that when a stock declines in this type of pattern such as EFX the selling can be violent and long. Many traders might remember when Target Corp (NYSE:TGT) reported its data breach, the selling was sharp and the stock has still not recovered from its decline. EFX stock will have some near term support around the $100.00 level, but the stronger chart support will be around the $92.50 area. This chart support level was tested in February 2016 and should be solid support when retested for the EFX share price.
Nicholas Santiago
InTheMoneyStocks
It is actually good when the price bounces up like this, people tend to get out on spikes like this. Should be a long red candle today.
The one year of free monitoring is with a third party and not even Equifax. What a joke. They look at this as an opportunity.
Great post. America must come to grips with the biggest threat which is internal offshore workers. We put our IT assets in the hands of offshore outsourcers such as HCL. They have access to EVERYTHING. 95% of all IT shops outsource to foreign companies like HCL. They are the greatest threat to our nation that no one talks about.
Waiting for this one to go to pennies. Securities Insidering Trading, Massive Data Breach, Names, SSN number and Age all compromised.
Damages will be in the billions IMO>.
Its Monday and any evidence of FBI 'sweep raid' on offices and officers of
EFX (problem except for private law firms . . . no evidence of any government or congress notice of anything wrong). <---Looks like we are safe from Terror Attack on Sept 11 . . . I guess.
Any form of professional T-Attack on USA from within, does not seem (at present) to include 'stuff' done internally.
SEC . . . silence.
This is much bigger threat to USA economic stability, as you only get 1 SS# issued in your lifetime, unless maybe you change names (as an individual).
Who sold/stole the info?
And, why not is this regarded as T-Attack wherein those involved lose all their right to atty. and face maximum lose of legal status as USA resident or citizen?
This is major attack on safety and financial identity of pensions, SS checks, and consumer ability to trust their credit card transactions?
Why no call for long time overdue upgrades to AV systems in corporate finance centers. And, why does it take much pain and time to get each account back to normal?
These tech safety heads who design our credit systems are so inept that your photo-ID does not come up on the cash register screen, to see if its really you making the credit card search.
The credit card criminals might even score twice by using your info to fill-in the EFX loss-claim filing form process?
Is EFX really telling us that they can't know if its really you making the credit history check use? <---makes one feel any group of illegal hackers can do tremendous damage to USA by cyber warfare?
Talk about 'holes' in the border security . . . the new threat is electronic warfare and we are . . . what?
A small bunch of cyber-crooks just did some impressive damage to USA for the effort and cost put into it. You are telling me The Cloud AI system didn't detect this breach . . . I mean EFX isn't handling each credit check by hand . . . is it?
How about they just added a little computer chip on you credit card . . . why not add a fingerprint and facial scan check to the credit card and they might just start finding some of these 'guests'?
EFX below $100 this week, near future $60
Equifax is trying to limit the extreme nature of this data breach by giving away one year of credit monitoring.... what good is that? These names, social security numbers, and dates of birth will be good 20 years from now.
Equifax could well cease to exist as we know it, it time for a major short of EFX as they !!!
Damages should and could be more than the company is worth. The Three national credit bureaus are really Global data bases of Billions of peoples confidential information, and as such should have the most highly sophisticated protections available.
Imagine If 143 Million people sued Equifax for the clear violation of the Fair Credit Reporting act data breach $1,000 each as provided by the FRCA.
That would be 144 Billion dollars in Damages alone, the Government should seize all the credit reporting agencies as they are a great risk to the consumer at this point.
Predictions for Monday? I think open $118 down to $110 before rebounding to $119 and closing $115.35
Equifax is offering free* credit monitoring to all US residents!
This comprehensive monitoring leverages the same proven technology used by Equifax to monitor their information systems, with alerts that may include:
1. Advising an identity thief that your information was compromised because they think the thief is you
2. Letting you know you’re pregnant by the time your newborn graduates kindergarten
3. Sending a debt collector to your workplace next September when your credit card they have on file will not authorize payment for your free* credit monitoring
* Initial 12 months only, may auto-renew, valid credit card required?
Its appear possible a combination of external hacking and internal customer info 'helpers' fostered this criminal act?
Will the public lose confidence in stock and oppose usage of company services again? Problem for Law-Suit bringers is they never read the fine print when they used their credit and sales info release, that seems built-into signing up to use the credit research tool? Its usually hidden in terms many do not understand the implications of.
This company has failed forthrightly to serve and protect customer personal sales and credit reports. Now, that this info is out publicly . . . is it become public domain info . . . never to be private again? I would like to see the evidence that users of personal data storage and analysis uses conducted, actually contributed to their financial well-being and health.
How will governments (including foreign) and businesses continue to feel confident in this company and its ability to provide credit check and buying data provisions?
And, watching the no-credit needed vehicle purchases ads and dwelling flaps as well as student loan traps . . . how secure is our economy?
Lets observe how Congress, etc. acts of this . . . another glaring evidence of weak USA AV and hacking prevention systems. Lets sit-back and see how The Free Market kicks-the-can down the road.
The company sure as --- seemed to have or, who got kicked under the Bus?
FBI is all over it. If guilty they will be room mates with Birnie Madeoff
How is selling your shares when you have information not yet released to the public not illegal?
"Supposedly EFX company management sold their shares before releasing the data breach news. According to CNBC."
This is not going to be pretty...
Supposedly EFX company management sold their shares before releasing the data breach news. According to CNBC.
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