Shares of cybersecurity stock ZeroFox (NASDAQ:ZFOX) rocketed higher today. This can be attributed to a partnership with Google Cloud that is aimed at disrupting phishing attacks by warning users of fake websites and dangerous URLs.
This is done by sending malicious URLs that have been verified through Google Clouds’s Web Risk Submission API, which then warns users of dangerous content. Given that phishing attacks account for more than 80% of reported security incidents, it’s no wonder that investors got excited about the news.
Indeed, ZFOX shares shot up over 40% so far in today’s trading session, although they are pulling back from their intraday highs. Nevertheless, investors are currently sitting on 48.08% gains over the past five days.