Movement Alert｜First Trust NASDAQ Cybersecurity ETF Falls 5.03% in Regular Trading, Fortinet Post-Earnings Plunge Weighs on Cybersecurity Shares

Market Focus10-29 21:39

On October 29, First Trust NASDAQ Cybersecurity ETF fell 5.03% in Regular Trading, trading at $103.19, with turnover of $47.9962 million.

The move was tied to sharp weakness across cybersecurity stocks after Fortinet shares dropped about 26% following its third-quarter results, even as earnings beat expectations, because investors focused on slowing growth, lower service revenue guidance, and analyst target-price cuts.

Recent market reports indicated Fortinet's selloff spilled over to peers including CrowdStrike and Palo Alto Networks, pressuring the broader cybersecurity complex and dragging on the ETF. Management also said service revenue growth is expected to improve in 2027 versus 2026, but did not provide formal annual guidance or clearly commit to an acceleration, prompting profit-taking in a sector that had already rallied strongly.

The fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the index. The index includes securities of companies classified as cyber security companies by CTA. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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