Why CrowdStrike Stock Fell Today

Shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD), a cybersecurity company, tumbled again today on no company-specific news. Rather, the tech stock likely fell as U.S. Treasury yields rose today, which put pressure on growth stocks.

Crowdstrike's stock was down by 4.8% as of 3:46 p.m. ET.  

Investors often flee high-growth stocks with loftier valuations when Treasury yields rise because it means a company's future profits will be worth less than they are right now. The 10-year Treasury yield was about 1.66% as of this writing, up from 1.52% at the end of last week.

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Source Fool.com