Stocks/IRE/IRESS

IRESS (large wealth management software company) had 3 upgrades in a row, and was enjoying solid price and earnings momentum, before announcing a hack that derailed said momentum.

After a month or so of silence, they’ve announced the internal review is complete, minimal impact.

That is, broadly speaking, good news, and likely as good as we are going to get. Hacks are bad, but seem to be somewhat inevitable, these days. Telstra, Optus, Woolworths, IRESS and many others have all been impacted in recent years. Cyber costs will lift, for everyone. The banks describe an essentially round the clock series of attacks.

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