Oracle Shares Plunge Amid Security Breach and Mounting Debt Concerns

Oracle Corporation faced a severe market downturn on Friday as news emerged of a potential cybersecurity incident. The technology giant’s stock plummeted 5.7%, falling below the psychologically significant $200 threshold, following claims from cybercriminals that they had infiltrated the company’s internal systems.

The notorious ransomware collective Clop, alternatively identified as Graceful Spider, publicly asserted late Friday that they had successfully compromised Oracle’s infrastructure. Market analysts indicate the attackers likely exploited a vulnerability within the Oracle E-Business Suite (EBS) to gain unauthorized access. While Oracle has maintained official silence regarding these allegations, the uncertainty alone triggered substantial selling pressure.

Simultaneously, credit default swap costs surged to their highest level Read more...