TalkTalk shares are starting to recover this morning after it was revealed that a 15-year-old boy was arrested in Northern Ireland in connection with the massive cyber attack it suffered at the end of last week.
It was initially reported that the attack had been carried out by a “Russian Jihadi cyberterrorist group” but the unnamed 15-year-old’s arrest seems to suggest that police are not convinced by this theory, and that the hack was not as damaging as once thought.
The arrest looks like it has calmed the market somewhat, and shares jumped by upwards of 10% at one point this morning.
Shares are still down since last week, but this morning’s recovery could point to the worst of the storm being over for TalkTalk right now.
TalkTalk’s shares have really struggled this year and have dropped by more than 50% since peaking at around 400p in May this year. Two similar incidents to the current hack occurred in February and August.