CrowdStrike Issues Statement Following Massive Outage That Stemmed From Content Update For Windows Hosts: 'This Was Not A Cyberattack'
Portfolio Pulse from Nabaparna Bhattacharya
CrowdStrike (CRWD) experienced a significant stock decline due to an update issue affecting Microsoft (MSFT) products, causing global outages. The incident was not a cyberattack, and CrowdStrike is assisting affected customers. The issue has been resolved, and key services remain unaffected. Investors can gain exposure to CRWD via TrueShares Technology, AI & Deep Learning ETF (LRNZ) and First Trust NASDAQ Cybersecurity ETF (CIBR).
July 20, 2024 | 3:55 pm
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NEGATIVE IMPACT
First Trust NASDAQ Cybersecurity ETF (CIBR) includes exposure to CrowdStrike, which faced a stock decline due to an update issue. The ETF may see short-term volatility.
CIBR has exposure to CrowdStrike, whose stock decline may cause short-term volatility in the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
NEGATIVE IMPACT
CrowdStrike's stock declined significantly due to an update issue affecting Microsoft products, causing global outages. The issue has been resolved, and key services remain unaffected.
The stock decline is directly related to the update issue, which caused significant disruptions. Although the issue is resolved, the immediate negative impact on the stock is evident.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
TrueShares Technology, AI & Deep Learning ETF (LRNZ) includes exposure to CrowdStrike, which faced a stock decline due to an update issue. The ETF may see short-term volatility.
LRNZ has exposure to CrowdStrike, whose stock decline may cause short-term volatility in the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
NEUTRAL IMPACT
Microsoft products were affected by an update issue from CrowdStrike, causing global outages. The issue has been resolved, and there was no cyberattack involved.
While Microsoft products were affected, the resolution of the issue and the clarification that it was not a cyberattack mitigate the potential negative impact on Microsoft's stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50