Okta outsources their support staff to save millions of dollars while losing billions of dollars in market cap each time their support staff gets hacked.
If Equifax is anything to go buy, the stock price will recover just fine.
In fact, until we get actual liability for breaches like that, an investing strategy based on "buying the dip" every time a company gets breached would be probably be quite successful.
Isn't Equifax part of a de facto monopoly? Okta doesn't have that luxury. Security is also not Equifax's core competency, but it is supposed to be Okta's. I would be happy for you to be right, but I think this happening a second time to Okta is going to cause massive damage to their reputation in the industry.
In fact, until we get actual liability for breaches like that, an investing strategy based on "buying the dip" every time a company gets breached would be probably be quite successful.