This article originally appeared on RealMoney.com on Sept. 4, 2014 at 10:58 a.m. To read more content like this AND see inside Jim Cramer's multi-million dollar portfolio for FREE... Click Here NOW.
Most everyone invested in the market these days -- or tasked with covering it -- seems infatuated by the power that social media and mobile could have on a company's financial results. Oddly, many of these same folks have inadequate LinkedIn (LNKD) profiles and are not on Twitter (TWTR) , and they never utilize Facebook (FB) properly, failing to tap in to the global conversation around a given issue or subject. It's so sad.
In any case, while mobile buying, mobile browsing and mobile interaction are proving to be beneficiaries to countless publicly-traded companies, keep in mind there are ugly drawbacks to this trend.
The first one is hacking, and this is a subject I touched upon in-depth in an interview for The Street with Symantec (SYMC) chief operating officer Stephen Gillett. Without the advance in mobile and online technologies, companies wouldn't be scrambling to lay the infrastructure while trying to reap all of the benefits right now. I believe retailers, banks and many other types of companies remain ill-equipped to defend private information of patrons simply because of execs are hungry for profit today. As a result, they are not laying the proper technological foundation to prevent breaches that ultimately destroy shareholder value.
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