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Increasing dependence on cloud computing and digital means of working have propelled a rapid rise in the number of cybercrimes of late, such as the recent and infamous Colonial Pipeline ransomware attack and the SolarWinds cyber hack, which occurred last December. In response, President Biden signed a National Security Memorandum this week to help the nation develop advanced cybersecurity solutions. Also, according to a Research and Markets report, the worldwide cybersecurity industry is expected to grow at a 9.7% CAGR between 2021 – 2026.
RDWR has gained 3.8% over the past month, while SCWX returned 2.2%. However, SCWX’s 57.5% gains over the past three months are significantly higher than RDWR’s 13.7% returns. Furthermore, in terms of their past nine month’s performance, SCWX is the clear winner with 104.9% gains versus RDWR’s 40.5%.
