Why Okta Shares Are Tumbling Today

Okta Inc OKTA shares are trading lower Tuesday morning following several reports indicating the company is investigating a digital breach.

First reported by Reuters, hackers posted screenshots claiming to have gained access to Okta's internal company environment. The screenshots were posted on Telegram by a group of hackers, known as LAPSUS$, who are reportedly seeking compensation for breach.

Okta's software allows businesses to authenticate the identity of their customers and employees. The company has more than 15,000 customers, so the breach could have widespread ripple effects. 

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OKTA 52-Week Range: $143.30 - $287.44

Okta shares were down 7.83% at $156.15 at time of publication.

Photo: Pexels from Pixabay.