We're Bullish on This ETF Holding Following Worrying Congressional Hack

You may have missed it, but the Congressional Budget Office was hacked by “a suspected foreign actor” with the potential for legislation impacting being compromised. As The Washington Post reported:

"Officials discovered the incursion in recent days and now worry that communications between lawmakers’ offices and nonpartisan researchers could have been accessed by an adversary or one of its digital proxies, as well as internal email and office chat logs…"

We see this as a sharp reminder about the need for companies, governments, individuals and other entities to safeguard themselves against bad actors and their malicious activity. While it’s true that day-to-day activity can gloss over that importance, a high-profile attack is not only a sharp reminder, but it also underscores the ongoing evolution of cyberattacks.

There is no reason we should expect that to slow down, especially as bad actors utilize AI to enhance their toolkits. We were going to hold this for Saturday's signals, but given what’s occurred, we’re sharing it now with you:

"Google's Threat Intelligence Group (GTIG) has identified a major shift this year, with adversaries leveraging artificial intelligence to deploy new malware families that integrate large language models (LLMs) during execution. This new approach enables dynamic altering mid-execution, which reaches new levels of operational versatility that are virtually impossible to achieve with traditional malware."

This means that even more creative attacks on the expanding array of connected devices and attack points, efforts that will keep cybersecurity spending on an upward slope. It also keeps us bullish on our First Trust Nasdaq Cybersecurity ETF (CIBR) shares as well as the cybersecurity businesses tucked inside Google (GOOGL) and Microsoft (MSFT) .

And with Google, it appears its pending acquisition of cloud security company Wiz, which was announced in March, has moved one step closer to being completed. Very recently, Wiz CEO Assaf Rappaport shared that the acquisition cleared its antitrust review by the U.S. Department of Justice. The expectation is that the transaction will close in early 2026, and Wiz should bring about $1 billion in revenue into Google, but what it brings to Google and Google Cloud will be far more valuable in the long run.

Getting back to CIBR shares, the recent pullback to under $75 from their recent 52-week high has them testing their 100-day moving average. Should the market soften further, the next layer of support for CIBR shares is near $71, and measured against our $85 target, that would be a nice level to put our Two rating to work.

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At the time of publication, TheStreet Pro Portfolio was long CIBR, GOOGL and MSFT.