Shares of CrowdStrike Holdings, listed on Nasdaq are down 14.30% in pre-market trading after the entire internet broke down due to a global outage in Microsoft. As of 6:35AM EDT, CrowdStrike’s stock price in pre-market trading is at $294.00, down 49.05 points (-14.30%) due to the global outage. The market capitalization of the company is around 83.48 billion USD.
The company’s stock has seen significant growth over the past year. On July 24, 2023, CrowdStrike’s stock was trading at $155.60. It reached $343.05 on July 18, 2024, just a day before the current incident. This represents a more than 120% increase in share price over the course of one year, effectively doubling the company’s stock value.
CrowdStrike is a cybersecurity platform which is used for security solutions for businesses. Using a single sensor and unified threat interface with attack correlation across endpoints, workloads, and identity, Falcon Identity Threat Protection stops identity-driven breaches in real time.
However, in a latest statement released by CrowdStrike Holdings, the company said that the issue was not due to a cyberattack but a defect in single content update for Windows hosts. The company added that it has identified the issue and a fix has been deployed to resolve the problem.
The issue caused a widespread outage in systems across the globe, disrupting flights, airline operations, stock exchanges, banks and a lot more corporate services.