Why CrowdStrike Stock Plummeted Again This Week

(NASDAQ: CRWD) stock saw another big sell-off in this week's trading. The company's share price ended this week's trading down 16% from last week's market close, according to data from S&P Global Market Intelligence.

Last Friday, CrowdStrike's software was at the center of a major IT outage -- and the event has triggered big sell-offs of the company's stock. The cybersecurity specialist's valuation pullback continued this week as investors and analysts weighed the potential fallout of the major system failure for the business.

Due to a bug contained in an automatic update that CrowdStrike rolled out last Friday, millions of computers using Microsoft's Windows operating system were taken offline last week. CrowdStrike has emerged as a leading provider of endpoint device protection and other related cybersecurity services, but last week's far-reaching IT meltdown has called the company's systems, performance outlook, and valuation into question.

Continue reading

Source Fool.com