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Why is Progress Software Corp (PRGS) Stock down?

We've noticed a 5.24% decline in Progress Software Corp (PRGS) stock during the 2024-02-27 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
15 Jun, 2023:

PRGS's stock fell 6.11% related to news that Multiple US agencies were compromised by a hacking campaign in which attackers have exploited flaws in a popular software tool to gather information from a range of victims. Russian-speaking hackers known as Clop have carried out a spate of recent attacks that exploited a vulnerability in MOVEit, a popular file-transfer product. Hackers gained access via a flaw in the MOVEit product from Progress Software Corp.

https://finance.yahoo.com/news/us-agencies-hit-moveit-hacks-184137226.html

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