Why Mimecast Stock Fell Today

Shares of Mimecast (NASDAQ: MIME), an email security-management company, slid today after it said that a certificate that the company uses to authenticate some Microsoft services was compromised. Mimecast said that it has contacted the customers to "remediate the issue." Mimecast said that Microsoft informed them that a "sophisticated threat actor" had compromised the certificate that's used by the company to authenticate some of Microsoft's services, including Microsoft 365 Exchange Web Services.