MSFT - Is CrowdStrike's Big Blunder a Buying Opportunity?
2024-07-21 06:10:00 ET
CrowdStrike 's (NASDAQ: CRWD) stock price plunged 11% on Friday, July 19, after an update to its cloud-based cybersecurity platform sparked a global IT outage across banks, airports, hospitals, retailers, other businesses, and government agencies. ATMs stopped working, flights were delayed, and crucial healthcare services went offline.
CrowdStrike CEO George Kurtz said the incident was caused by a "defect found in a single content update for Windows hosts" and that a fix had already "been deployed." Microsoft (NASDAQ: MSFT) , which was initially blamed for the outage because it only occurred on Windows systems, said it was working with CrowdStrike to resolve those issues.
CrowdStrike certainly made a massive mistake and the market's reaction is understandable. But others are wondering if this news-driven pullback represents a good buying opportunity. Are they right?
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Is CrowdStrike's Big Blunder a Buying Opportunity?