Why CrowdStrike Holdings Stock Just Gained 5%
Shares of cybersecurity operator CrowdStrike (NASDAQ: CRWD) are up a solid 4.8% in 1:50 p.m. EST trading Tuesday, apparently buoyed by a report on TheFly.com advising that hedge fund Tiger Global Management has just increased the size of its stake in the company.
Last night, after close of trading, the hedge fund run by ace investor Chase Coleman filed its Form 13F-HR with the SEC, advising that as of the close of the quarter ending Sept. 30, it owns 7.5 million shares of CrowdStrike, valued in excess of $1 billion. Three months ago, Tiger Global had reported owning only a bit more than 5 million shares worth at about half a billion dollars. So it seems Tiger has grown its stake in the company by roughly 50% -- and the value of its investment by roughly 100%!
Image source: Getty Images.
Source Fool.com
