Okta’s stock dropped more than 11% in the wake of a data breach that impacted customers.
Okta announced a data breach on October 20, one that impacted its support case management system. Companies, including 1Password and Cloudflare, have announced issues as a result of the breach.
According to Reuters, Okta’s stock has shed 11.6% of its value, dropping to $75.57.
Okta’s demonstrates the increasing challenges involved in maintaining cybersecurity in a world where companies are increasingly interconnected via the cloud.