Why is it out of favour? Who decides what's in and what's out? It sounds like the 'market' waits for the stocks to increase before deeming it worthwhile to invest and then the gains have already happened.
The Optus breach and Uber CISO being found guilty will cause legislative changes that will eventually propel cyber stocks forward. Surely they should be in favour by virtue of the free advertising and consumer demands on organisations to protect their personal information.
I agree it will take a while to see the gains because the market is shortsighted but you would expect to see slow gains as early adopters pile in
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