Why CrowdStrike Plunged 22.9% in November

Cybersecurity leader CrowdStrike (NASDAQ: CRWD) fell 22.9% in November, according to data from S&P Global Market Intelligence. CrowdStrike didn't report any earnings during the month but fell along with many high-multiple growth stocks amid fears of higher inflation and interest rates. Additionally, CrowdStrike received an analyst downgrade in the middle of November, based on valuation concerns.

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Despite November's swoon, CrowdStrike has been a tremendous winner since going public. After the company climbed to new all-time highs at the beginning of the month, many investors may have been looking to take profits.

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Source Fool.com