The Counterintuitive Reason CrowdStrike Stock Slipped Today

Shares of CrowdStrike Holdings (NASDAQ: CRWD) traded lower Thursday, slipping by as much as 7%. As of 2:02 p.m. ET today, the stock was still down 3.1%.

The broader market retreated today, which no doubt helped fuel the stock's drop, but there was actually company-specific news that was a net positive for CrowdStrike shareholders.

Citigroup (NYSE: C) analysts Tyler Radke and Fatima Boolani took a glass-half-full view of the tech-centric bear market, according to The Fly. The analysts suggest that as valuation multiples in the software sector approach multiyear lows, the "de-rating is mostly done." Additionally they note that the potential for further volatility exists driven by optimistic estimates going into the second half of 2022, but valuations have mostly stabilized -- at least for now.

Source Fool.com