# CrowdStrike Shares Dive 15% After IT Disaster, Rivals Surge 📉

**URL:** <https://onehack.st/t/crowdstrike-shares-dive-15-after-it-disaster-rivals-surge/287361>\
**Category:** News & Articles\
**Tags:** business\
**Created:** [July 20, 2024, 12:52pm UTC](https://onehack.st/t/crowdstrike-shares-dive-15-after-it-disaster-rivals-surge/287361 "2024-07-20T12:52:45Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [July 20, 2024, 12:52pm UTC](https://onehack.st/t/crowdstrike-shares-dive-15-after-it-disaster-rivals-surge/287361/1 "2024-07-20T12:52:46Z")

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**Summary:**

1. **Stock Plunge** : CrowdStrike Holdings’ shares fell 15% following a massive IT outage caused by a software update, marking its steepest drop since November 2022 and hitting the lowest price since April 25.

2. **Market Reaction** : While CrowdStrike faced a sharp decline, competitor Palo Alto Networks saw a 4% rise, and tech giants like Apple and Alphabet experienced gains, showing a mixed market reaction.

3. **Analyst’s Perspective** : Rosenblatt analyst Catharine Trebnick views the selloff as an overreaction, considering it a buying opportunity for a high-growth cybersecurity firm now available at a lower valuation, despite CrowdStrike’s high P/E ratio requiring strong investor confidence.