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It’s a strange time for the cybersecurity industry. Considered an indispensable component of any modern economy, the ecosystem unfortunately suffered a massive black eye due to CrowdStrike’s (CRWD) catastrophic outage. Still, a competitor’s downfall could spell a discounted opportunity for sector player CyberArk Software (CYBR), even if options traders don’t see much potential in CYBR stock.
As Barchart contributor Baystreet mentioned, CrowdStrike is under intense scrutiny, with its outage resulting in severe disruptions in multiple sectors. Some of the consequences of the regrettable incident involved grounded flights, health service impacts, payment system crashes and access blockages to several other important services. Not surprisingly, CRWD stock suffered a double-digit loss on the news.
