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NortonLifeLock (NLOK) Stock Rises After Unveiling Norton Crypto

Wednesday, June 02, 2021 12:11 PM | Michael Hayne
NortonLifeLock (NLOK) Stock Rises After Unveiling Norton Crypto

What's Going On With Norton Lifelock?

NortonLifeLock (NLOK) stock rose on Wednesday after the company announced its intentions to release Norton™ Crypto, a new feature designed to enable consumers to safely and easily mine cryptocurrency through its trusted Norton™ 360 platform. Shares of the company were trading higher 1.61% to $28.34 a share on Wednesday.

What Does This Mean For Norton

With cryptocurrency reaching astronomical heights in terms of popularity and mainstream acceptance, mining safety weighs heavily on investor's minds.  Most coin miners have had to assume many risks in their desire for cryptocurrency, disabling their security in order to run coin mining and allowing unvetted code on their machines that could be skimming from their earnings or even planting ransomware.

“As the crypto economy continues to become a more important part of our customers’ lives, we want to empower them to mine cryptocurrency with Norton, a brand they trust,” said Vincent Pilette, CEO of NortonLifeLock. Adding, "Norton Crypto is yet another innovative example of how we are expanding our Cyber Safety platform to protect our customers’ ever-evolving digital lives.”

Norton Crypto will give miners a safe and reliable way for consumers to mine for Ethereum without leaving them vulnerable. Once cryptocurrency has been earned, customers will have the ability to track and transfer earnings into their Norton Crypto Wallet, which is stored in the cloud so it cannot be lost due to hard drive failure.

NortonLifeLock Inc. provides cyber safety solutions for consumers worldwide. The company offers Norton 360, an integrated platform provides extensive cyber safety coverage and a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

Overall Score - 64

NLOK has an Overall Score of 64. Find out what this means to you and get the rest of the rankings on NLOK!

NortonLifeLock sells cybersecurity and identity protection for individual consumers through its Norton antivirus and LifeLock brands. The company divested the Symantec enterprise security business to Broadcom in 2019. The Arizona-based company was founded in 1982, went public in 1989, and sells its solutions worldwide.

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