Here's Why CrowdStrike Stock Gained 40% in the First Half
CrowdStrike (NASDAQ: CRWD) rose 39.5% over the first six months of 2023, according to S&P Global Market Intelligence. This far outpaced the S 500 as well as popular cybersecurity ETFs, and it slightly edged the Nasdaq Composite over that period. The company capitalized on stronger-than-expected quarterly earnings reports. The stock also benefited from improving market conditions for growth stocks and the cybersecurity sector, which helped CrowdStrike and some of its peers recover from a rough 2022.
It's important to understand the context for CrowdStrike and its peers entering this year. The stock dropped more than 50% in 2022 thanks to high interest rates and slowing growth. Many high-growth stocks had charged to unsustainably high valuations during the pandemic, and they crashed back to earth as conditions reversed.
Image source: Getty Images.
Source Fool.com
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