CrowdStrike Shares Trim Heavy Losses As Microsoft Announces Resolution Of Global Tech Outage: 'This Is Clearly A Major Black Eye'
Portfolio Pulse from Piero Cingari
CrowdStrike's Falcon platform update caused a global tech outage affecting Microsoft systems, leading to significant disruptions in various sectors. CrowdStrike's stock dropped sharply, while competitors like SentinelOne, Palo Alto Networks, and Okta saw gains. ETFs and hedge funds with significant exposure to CrowdStrike were also impacted.
July 19, 2024 | 12:53 pm
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NEGATIVE IMPACT
American Airlines was severely affected by the tech outage, leading to flight cancellations and delays.
The tech outage caused significant disruptions in American Airlines' operations, leading to a negative short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
REX AI Equity Premium Income ETF, with a 7% share in CrowdStrike, is likely to be negatively impacted by the stock's sharp decline.
The ETF has significant exposure to CrowdStrike, and the sharp decline in CrowdStrike's stock will negatively impact the ETF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
First Trust NASDAQ Cybersecurity ETF, with an 8% weight in CrowdStrike, is likely to be negatively impacted by the stock's sharp decline.
The ETF has significant exposure to CrowdStrike, and the sharp decline in CrowdStrike's stock will negatively impact the ETF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
CrowdStrike's Falcon platform update caused a global tech outage, leading to a significant drop in its stock price. The company is working to resolve the issue, but the incident may create opportunities for competitors.
The failed update led to widespread disruptions, significantly impacting CrowdStrike's reputation and stock price. The company will need to mitigate the damage, but the short-term outlook is negative.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Delta Air Lines was severely affected by the tech outage, leading to flight cancellations and delays.
The tech outage caused significant disruptions in Delta Air Lines' operations, leading to a negative short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
TrueShares Technology, AI & Deep Learning ETF, with a 9% allocation in CrowdStrike, is likely to be negatively impacted by the stock's sharp decline.
The ETF has significant exposure to CrowdStrike, and the sharp decline in CrowdStrike's stock will negatively impact the ETF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
United Airlines was severely affected by the tech outage, leading to flight cancellations and delays.
The tech outage caused significant disruptions in United Airlines' operations, leading to a negative short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
Microsoft's systems were affected by CrowdStrike's Falcon update, but the issue has been resolved. The incident highlights potential vulnerabilities in Microsoft's reliance on third-party services.
While the outage was significant, Microsoft's quick resolution of the issue mitigates long-term impact. However, it highlights potential vulnerabilities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Apple's stock rose by 0.9% as its systems were unaffected by the CrowdStrike update.
Apple's systems were unaffected by the outage, leading to a slight positive impact on its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Okta saw a 1% rise in its stock price as it capitalized on CrowdStrike's disruptions.
Okta benefited from the negative impact on CrowdStrike, as investors looked for alternative cybersecurity solutions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Palo Alto Networks saw a 2.9% rise in its stock price as it capitalized on CrowdStrike's disruptions.
Palo Alto Networks benefited from the negative impact on CrowdStrike, as investors looked for alternative cybersecurity solutions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
SentinelOne saw a 6.3% rise in its stock price as it capitalized on CrowdStrike's disruptions.
SentinelOne benefited from the negative impact on CrowdStrike, as investors looked for alternative cybersecurity solutions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60