Rackspace Sinks as ‘Security Incident’ Leads to Service Outage

Rackspace Technology shares slump as much as 14% in premarket trading Monday after the company said a “security incident” is responsible for a service outage that began on Friday.

• The company said it has managed to restore email services to “thousands” of customers and is continuing to work to fully restore service to everyone impacted
• Rackspace previously said it became aware of an issue with its Hosted Exchange environment on Friday and “proactively powered down and disconnected” the environment while it worked to determine the impact
• Shares of the firm have fallen roughly 64% so far this year
• RXT has ...