Time: 2024-07-22
What is CrowdStrike ? CrowdStrike is an American cybersecurity firm based in Austin , Texas , founded in 2011 . The company has grown rapidly , offering security services using cloud - based software and has raised millions in funding from Silicon Valley investors . CrowdStrike protects 538 out of the Fortune 1000 companies , showcasing its global reach and success in the cybersecurity industry.
While CrowdStrike primarily focuses on blocking hackers and malware , it has also been hired to investigate major data breaches . The company was tasked with investigating the Russian hack of DNC servers in 2016 and a cyberattack linked to North Korea at Sony Pictures in 2014 . These investigations have played a notable role in events such as the first impeachment of Donald Trump and the special counsel investigation into Russian interference in the 2016 election.
U.S. stocks closed lower , extending a slump that left Wall Street with its worst week since April . The S&P 500 , Dow Jones Industrial Average , and Nasdaq composite all experienced losses amid a disruptive technology outage that affected businesses worldwide . Cybersecurity firm CrowdStrike 's stock plunged more than 15 % following the outage , while other cybersecurity companies saw increases in their stock prices.
The technology outage and subsequent Stock market fluctuations have highlighted the interconnected nature of the global economy . While Big Tech stocks faced pressure due to concerns over valuation , other sectors , such as smaller companies and those tied to economic strength , saw gains . The rotation within the market can lead to shifts in stock prices , impacting investors and businesses alike.