Jollibee hit by massive data leak

Jollibee [JFC 218.00, up 3.3%; 319% avgVol] [link] recently released a statement to say that it has initiated “response protocols” to deal with a data leak that was initially reported by the Twitter account Deep Web Konek on June 20. According to the account, the leak may have exposed the personal information (names, addresses, phone numbers, etc) of up to 32 million people across 650 million entries. JFC said on Friday that it was investigating to “better understand the scope” of the leak. 

MB bottom-line: JFC saw Maxicare and was like, “Hold my chickenjoy”. Jokes aside, this sucks. The alleged scale of this leak is massive. While it doesn’t look like this leak will impact JFC’s operations or lower its sales, that’s only because we’ve been trained by the ineptitude of our government agencies to simply accept that our personal information will be mishandled and lost by the institutions entrusted to keep it safe. The only thing I like about the JFC statement is that it doesn’t gaslight us by using terms like “hacker” to offload the blame on the threats that face every online company. If there were laws in place to enforce proper data storage this might be a different story, but for now, it’s just not clear if this will have any impact on JFC’s bottom line. Investors don't seem bothered. JFC briefly dipped when the news came out and then rebounded slightly higher than it was before the dip.

---
 

Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.

Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.