We saw Strikeforce Technologies Inc (OTCMKTS: SFOR) up nearly 20% in one day, recently. Now, this could be due to the potential changes in the cybersecurity. U.S. President Trump’s blueprint for the nation’s federal budget proposed $1.5B for the Department of Homeland Security (DHS) in order to protect U.S. federal networks and infrastructure from potential cybersecurity attacks.
That said, this budget request increased the Department of Homeland Security’s funding by 6.8%, while the President made some budget cuts to other agencies and departments. Moreover, there could be increased cooperation between the government and the private sector on cybersecurity, and this could potentially increase the stock value of some publicly-traded cybersecurity companies.
That said, Strikeforce Technologies Inc (OTCMKTS: SFOR) could be poised to grow under the Trump administration. Strikeforce Technologies Inc provides a suite of online products that aim to help prevent cyber theft and data breaches, and it also looks to protect customers, employees and partners in real time at every vulnerable point.
Strikeforce Technologies products include: ProtectID(R): offers 2-factor “Out-of-Band” authentication across many methods and devices for protection; Methods that is preferable and low cost for delivering One Time Passwords (OTP). This approach leverages a 2nd network for entering or receiving passwords, which locks out hackers even if they have your username and password; Service is available for in-house, Cloud Service or hybrid; GuardedID(R): a keyboard encryption and anti-keylogger that functions at the keyboard level, preventing keyloggers. Now according to the FBI and the 2010-2013 Verizon Data Breach Reports, viruses that steal login and confidential information has become one of the primary consumer threats.
Let’s get back into Trump’s budget blueprint. The request for the increased budget for cybersecurity was drafted by the Office of Management and Budget Director Mick Mulvaney, and the blueprint stated, “Through a suite of advanced cyber security tools and more assertive defense of government networks, DHS would share more cybersecurity incident information with other federal agencies and the private sector, leading to faster response to cybersecurity attacks directed at federal networks and critical infrastructure.”
The blueprint went on to state, “As the world has become more dangerous—through the rise of advanced potential adversaries, the spread of destructive technology, and the expansion of terrorism—our military has gotten smaller and its technological edge has eroded.”
In addition the Trump administration is looking to develop metrics to track the implementation of a federal cybersecurity framework. Trump’s adviser on homeland security and counterterrorism Thomas Bossert stated, “We’re going to go through a thoughtful approach that requires federal departments and agencies to adopt and implement cybersecurity framework developed by NIST and any subsequent iteration of that document,” Bossert said at a cybersecurity summit organized by the Center for Strategic and International Studies in Washington. “They’re going to be required to produce for us a report.”
Strikeforce Technologies could benefit from the changing political landscape in the cybersecurity industry. President Trump seems to know cybersecurity is real and Americans and the Federal government is at risk, and he’s looking to change that. Consequently, we could see increased activity in both public and private cybersecurity companies, which could further push Strikeforce Technologies higher. Strikeforce Technologies has been significantly outperforming its industry of software – application.
At one point recently, the stock was up over 3,900% over the past year, beating its industry and the S&P 500 Index by over 3,900%. That in mind, this stock has been a high flyer, and it could move very quickly. SFOR was still over 40% below its 52-week high recently, but it could make new highs, if the budget for increased cybersecurity is accepted. You’ll want to keep an eye on this one, even though it’s been up over 3,000% this past year. To stay up to date on any developments that could affect SFOR, enter your email below to subscribe to our free newsletter.