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After Ten Years, McAfee is Going Public (Again) – Here’s How to Play It

Another IPO to be added to 2020

McAfee is coming back…

What’s happening?

Countless computer users now rely on remote desktop computer connection to work at home, thanks to the pandemic. In fact, at the peak of the pandemic, nearly 50% of America’s workforce was working remotely. And it only makes sense with this sudden uptick at working from home; it has increased companies and employees more susceptible to cyberattacks.

Cybercrime has risen by over 600% during the pandemic, and it seems like malicious hackers seem to be launching new attacks every day. And this isn’t something that companies and employees can just ignore – and it’s impacting one industry in a big way. 

Where’s the money?

With cybercrime on the rise, people are spending more money to prevent and combat it. And those funds are being funneled into the cybersecurity space. And one company is looking to capitalize on the momentum moving into the sector.

McAfee revealed that it is initial public offering late would be priced at $20 a share and will raise $740 million from the sale of 37 million shares. This would bring McAfee’s to $8.6 billion. The company will trade on Nasdaq under the ticker symbol MCFE.

And this isn’t the first time McAfee has gone public. It was tradable before Intel bought it back in 2011. But McAfee is reemerging as a standalone firm – offering software to protect consumers and businesses from viruses, ransomware, spyware, phishing, identity theft, and other cybersecurity problems.

Cybersecurity stocks have soared this year as a result.

But here’s what I have to say about this IPO.

How do I get some?

We’ve talked about IPOs a few times here. And as you know, I’m not usually one to chase them. But even I have to admit that the McAfee IPO is an interesting one. Especially when you take a close look at how hot cybersecurity currently is and the massive debt this company has on the books.

So, I’ll be interested to see what wins and whether McAfee will come out on top. With that said, while I do find it interesting, I’m not interested in putting my money into it. And instead of chasing” what could be, “I’m going to be focusing on what has been successful. And for me, that’s FEYE – a stock that has been crushing it across the board over the last few months.

In the spotlight: A positive update on jobs numbers…

Well, this is a day that we’ve all been waiting to see. Claims for unemployment benefits have finally begun to inch lower as of last week.

787,000. That’s the number of workers that claimed first-time benefits when the jobs numbers. This is lower than the previous week. But more importantly, this is the first time since march that jobless claims fell below 800,000.

But with that said, not everyone can apply for regular state benefits due to eligibility. And that’s where the Pandemic Unemployment Assistance program comes in. This program was created to be a part of the CARES Act earlier this year. This program provides benefits for the self-employed and gig workers. Those filing for PUA came in at 345,440 last week.

So, when you add PUA numbers and those 800,00 that have filed an initial application for benefits came in at 1.1 million. Now, continued jobless claims, which are those who have applied for benefits at least two weeks in a row, came in at 8.4 million. This is a million lower than the prior week.

Even More Good News…

While the improving jobs numbers are a welcomed surprise and a positive development for many, those Americans who are newly employed weren’t the only ones to have a financially strong week.

You see, on Wednesday, my 1450 Club members had the chance to grab a quick 98.46% profit – and when I say “quick,” I mean under 2 hours!

The department store that handed us that incredible win is just one of the plays my proprietary trading system has recently recommended.

Click here now to learn the rest of them.

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