Why CrowdStrike Stock Continues to Drop Today
Shares of cybersecurity company (NASDAQ: CRWD) continue to drop on Tuesday after its major software update problem of more than a week ago. The stock was already down more than 30% from recent highs, and investors might have thought that the worst was over once the problem had been corrected. But today, Delta Air Lines is reminding investors that this ordeal is far from over, which is why CrowdStrike stock was down 9% as of 10:45 a.m. ET.
On July 19, CrowdStrike updated its software. But the update had a defect, which knocked out Microsoft's Windows operating system for businesses around the world. Major airlines were among those with systems that went down, causing widespread travel delays. And now, Delta may be looking for compensation.
According to CNBC, Delta just hired prominent attorney David Boies, which suggests that it may be considering a lawsuit against CrowdStrike. The cost of the outage for Delta alone is estimated to be up to $500 million.
Source Fool.com
CrowdStrike Holdings Inc Stock
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