Posted May 27, 2021
By Jonas Elmerraji
Buy Alert: How This Rockin’ Cybersecurity Stock Could Soar 50%
Welcome back to Stocks That Rock!
Each week, I turn up the volume on a breakout stock that will make your retirement account sing.
But before we get into today's pick... I need your help.
I want to highlight your favorite stock chart for my next video.
So to cast your vote… leave a comment on today’s YouTube video with a stock ticker that’s on your watchlist.
And I'll pick the winner next week!
For now, I'll show you how a rockin' cybersecurity stock could net you a 50% gain this year.
Click the video below to get started.
Cyberattacks are America's biggest threat in 2021. According to a recent report from Cybersecurity Ventures, cybersecurity costs are expected to top $20 billion.
That's a more than 50X increase from the $325 million shelled out in 2015.
In case you missed it, here's a sobering reminder of what cyberterrorists have done so far this year...
In May, foreign hackers shut down a key U.S. oil pipeline for nearly a week.
Just a few months earlier, CNA Financial Corp. — one of the biggest insurance companies in the U.S. — quietly paid hackers $40 million to end a brutal ransomware attack.
And even scarier still, a cyberterrorist hacked into a Florida water treatment plant's network and tried to poison 15,000 people with lye in February.
Now businesses and consumers are spending billions to shore up their digital defense against cyber crooks.
So this week's stock that rocks is cybersecurity firm NortonLifeLock Inc. (NLOK). r
The firm's antivirus software has been protecting computers from criminals for over 30 years. And its LifeLock subscription service protects individuals from identity theft and ransomware attacks.
As you can imagine, business is booming after this year's big cyberattacks.
Norton's stock broke out big after reporting monster quarterly earnings, which beat analyst sales and earnings estimates by a wide margin.
I think this stock is easily headed to $30 in the near term. As you can see, the stock has traded in a $6 range between $18 and $24.
And if you add the $6 to the breakout point at $24, that gives you a $30 price target — a gain of almost 10% from where shares are trading now.
But I think if cyberattacks escalate, shares could easily top $40 by the end of the year — which would hand you an upside of nearly 50%!
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Thanks again. And for Rich Retirement TV, I'm J-Rod and I'll see you next week.
On the hunt,