's (NASDAQ: CRWD) stock price tumbled 11% on July 19 after the cybersecurity company's flawed software update for Windows PCs sparked a global IT outage across banks, airports, hospitals, government agencies, retailers, and other businesses. The company says it's already identified the issue and is in the process of rolling back the disastrous update, but it's still too early to assess the long-term damage to its business and brand.

This seems like a black swan event for CrowdStrike, one of the cybersecurity sector's fastest-growing companies. Its revenue rose at a compound annual growth rate (CAGR) of 65% from fiscal 2019 to fiscal 2024 (which ended this January), its stock surged 265% over the past five years, and it now serves about 60% of the Fortune 500 companies.

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Source Fool.com