Telefonica (TEF) Shares Soar 2.21% Despite Ransomware Attack

Telefonica's (TEF) share price surged 2.21% today, marking its third consecutive day of gains and reaching its highest level since July 2022, with an intraday gain of 2.41%.

Telefonica recently faced a significant ransomware attack, which has the potential to disrupt operations and incur financial costs. Such cybersecurity incidents can erode investor confidence and impact stock performance. The company responded by activating its crisis committee and implementing protocols from its contingency plan, demonstrating a proactive approach to managing the threat. However, the long-term effects of the attack on Telefonica's stock price remain uncertain.