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CrowdStrike Stock Tanks 15%—Set For Worst Day Since 2022
But one analyst says the “overreaction” selloff poses a “compelling buying opportunity.”
Europa Press via Getty Images Down about 15% shortly after market open, CrowdStrike stock is on pace for its steepest daily loss since November 2022 and its $290 low share price is the lowest intraday mark since April 25. “This will be the largest IT outage in history,” declared cybersecurity expert Troy Hunt, with the disruption impacting every corner of society, including the cancellation of more than 1,200 American commercial flights, issues at 911 call centers in multiple states and hiccups in financial market trading. CrowdStrike, which sells cloud-based solutions to businesses to protect their networks from cyberattacks, may not have previously been a household name, but its $83 billion market value at Thursday’s close made it the 109th-largest American public company, bigger than the likes of CVS, FedEx and Target, making the key leap onto the S&P 500 index last month.
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