In July 2024, a glitchy software update from cybersecurity juggernaut CrowdStrike (CRWD) triggered a global outage for many enterprise-level Microsoft (MSFT) clients that temporarily disrupted operations for numerous Fortune 500 companies - including, most notoriously, Delta Air Lines (DAL). At that time, CRWD stock plunged about 36% in just two weeks following the incident.
However, the stock has rebounded considerably from its Aug. 5 year-to-date lows, up more than 41% since then. CRWD's comeback has been driven by solid quarterly earnings results and ne enhancements to its artificial intelligence (AI)-powered Falcon platform, which have been well-received by customers. This platform has seen increasing adoption by customers of all sizes, helping to drive CrowdStrike's revenue growth and expand its market share in the cybersecurity space.
