Despite massive data breach, Target’s shares only fall by 3%

Over 40 million Target customers have been potentially affected by the company’s massive data breach, thus spawning numerous lawsuits in the past week. Despite this, Target’s shares have only fallen by about 3%. 

While the Justice Department investigates a data breach that potentially affected 40 million Target customers in more than its 1,700 stores in the U.S., investors in the second-largest retail company are holding tight. The data hack is the second largest incident of its kind in U.S. history; T.J. Maxx’s 2007 breech affected 47.5 customers. Target’s shares, however, have fallen just 3 percent since the data theft was revealed, Reuters reports.