Why I Couldn't Resist Buying More of This Beaten-Down Artificial Intelligence Stock
CrowdStrike (NASDAQ: CRWD) has gotten clobbered during the tech-sector meltdown. Shares are more than 60% below their peak price from late 2021.
However, CrowdStrike is a better company now than it was when shares hit their zenith. The cybersecurity company's strategy of leveraging the power of the cloud and artificial intelligence (AI) is driving blistering growth, which isn't likely to stop anytime soon. That's why I couldn't resist taking advantage of its lower price to add more shares to my portfolio.
CrowdStrike built its Falcon platform to reinvent network security for the age of the cloud. The cloud-based platform collects 2 trillion data points each day, enabling its AI technology to grow smarter as it detects anomalies in the data. This approach helps it stop the most sophisticated threats. In third-party testing, the company's platform achieved 100% ransomware prevention with zero false positives. According to comments by co-founder and CEO George Kurtz on last quarter's conference call, this "reflects our superior AI and machine learning models and the data mode advantage we derive from our unique graph technology."
Source Fool.com
