2024-08-02 03:45:00 ET
Cybersecurity has become an integral component in today's digitally connected world. It's so significant that when CrowdStrike (NASDAQ: CRWD) accidentally released a software glitch to its cybersecurity platform, it caused a global tech outage on July 19.
CrowdStrike's mistake can contribute to competitors capturing customers who may have otherwise considered the cybersecurity giant. SentinelOne (NYSE: S) is one such potential beneficiary. Its CEO, Tomer Weingarten, has called CrowdStrike his company's "main competitor."
SentinelOne shares ticked up after CrowdStrike's tech blunder, suggesting investors believed it, indeed, could benefit. However, the company's ability to perform over the long haul is a more important factor in an investment decision.
For further details see:
Is SentinelOne Stock a Buy After Rival CrowdStrike Caused a Global Tech Outage?