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CrowdStrike Crumbles: Stock Plummets 15% Amid Major IT Outage
CrowdStrike stock plummeted 15% after a software update caused a major IT outage, marking its steepest loss since November 2022. According to Forbes, this is the third-worst day in the company’s five-year history.
Hot Take:
Looks like CrowdStrike just hit Ctrl+Alt+Delete on their stock prices. Who knew a software update could double as a stock market crash simulator?
Key Points:
- CrowdStrike stock plummets 15% after a disastrous software update.
- Microsoft also takes a hit, though only down 1%.
- Competitors like Palo Alto Networks enjoy a surge in stock prices.
- Analysts suggest the drop is an overreaction and a potential buying opportunity.
- CrowdStrike’s P/E ratio hits a low but remains high overall, signaling investor confidence challenges.
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