Crowdstrike brought the world to its knees last week, with many people asking who the company is! The global IT outage affected companies ranging from banks to airlines. It was caused by a $US74bn Texas-based cybersecurity firm that issued a bad software update, leading Windows to crash due to a fault in how CRWD’s software update interacted with the globally utilised software. Ironically, CRWD is described as a cybersecurity vendor that develops software to help companies detect and block hacks. It’s known as an “endpoint security” firm, which uses cloud technology to apply cyber protections to devices connected to the internet. It’s a sobering realisation of how dependent the world has become on the internet for our everyday lives.
- We believe the risk/reward is scary towards CRWD in today’s litigious world, an easy “if in doubt, stays out”.
MM is neutral towards CRWD US
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