CrowdStrike Holdings Inc. (NASDAQ: CRWD) is down more than 6% after delivering its first quarter earnings report after the market closed on June 3. The company beat on the bottom line. However, revenue came in as expected. Furthermore, the company’s guidance was not as bullish as investors hoped.
The takeaway is simple. As was the case with many technology stocks this earnings season, the sharp move prior to earnings was the overreaction. This is a move back to equilibrium.
