GoDaddy stock rises 1.24% following FTC settlement news and commitment to enhanced cybersecurity

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GoDaddy Inc. (NYSE: GDDY) saw its stock surge by 1.24%, trading at $199.92, up by $2.44 during market hours, following the announcement of its settlement with the U.S. Federal Trade Commission (FTC). The company resolved an investigation related to two security incidents disclosed in 2020 without admitting any fault or incurring fines.

The settlement includes implementing additional security measures, many of which GoDaddy has already adopted, and reflects its ongoing commitment to bolstering cybersecurity. The announcement reassured investors, as GoDaddy emphasized minimal financial impact from the settlement and highlighted continued investments in improving its systems to protect customers from evolving cyber threats.

The stock’s positive momentum underscores investor confidence in GoDaddy’s ability to navigate regulatory challenges while maintaining its leadership in the web hosting and domain registration space. The increase comes as the market reacts to the company’s proactive approach to security enhancements and its resilience in addressing past incidents.

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