George Kurtz, president CEO and Co-Founder at CrowdStrike speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 21, 2019.Mike Blake | Reuters
CrowdStrike shares dropped by 13% on Monday following a widespread outage of Windows devices caused by a faulty update to their Falcon vulnerability-protection software. The incident affected 8.5 million devices, leading to significant disruptions, including grounded flights and canceled medical appointments. Hackers took advantage of the situation by creating malicious websites. Over the weekend, IT staff and CrowdStrike worked to resolve the issues, with the company testing faster fixes. Guggenheim Securities downgraded CrowdStrike’s stock from buy to neutral, citing potential impacts on new signings and the company’s image. Goldman Sachs maintained a buy rating but acknowledged possible delays in closing deals. CrowdStrike is continuing to assess the incident’s impact on its business
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