re: Crowdstrike CRWD

I sold all of my CRWD recently after its crazy run up. I am very curious to see how this plays out tho. On one hand it is pretty incredible the impact they have across US business operations, I guess my big question is will these companies actually change providers because of this. The need for what they provide is obviously significant and not going anywhere.

I’m with you here. Ain’t no one going into a board room pitching the company to reduce their cyber security budget in this day.

There’s not a whole lot of options out there at that size and scale.. sure some companies will abandon and look elsewhere but it’s not as easy as you may think. CRWD definitely has some major contracts

Yeah the more I think about it the more I’m inclined to start buying. The core business held steady and was not impacted.

Delete

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Read where they went DEI on their board which means they probably followed suit on staff from top to bottom. A blunder this big may not be recoverable.

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My guess as well.

A failure of this magnitude goes beyond someone making a simple mistake. Pushing out an update with a fatal error that crashed networks around the globe is too big to recover from.

When did this outage actually start occurring? Last Thursday or Friday? I was curious on how options fared and I looked at 8/2 Puts at a 270 strike. On Wednesday, those options were worth $25 (0.25) per contract. Thursday at open, those prices soared to an opening price of $627 and then to $1610 earlier this week. The total volume on the 270s went from 3 on 7/17 to 1000+ on 7/18.

Did someone at Crowdstrike owe someone a lot of money and pushed out a bad update to make someone massive $$? The stock price opened at $351.74 last Thursday.

It was about 11:30PM Central time Thursday night. I was on my desktop and watched it happen live on my work laptop. My shitty company is based out of India, which may make a difference, and makes it even worse for our shitty IT department. That means they're rolling out updates at the start of the business day in India, where most of the employees are. Dumbasses.

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Pushing out an update with a fatal error that crashed networks around the globe is too big to recover from.

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I disagree. I've been watching what happens to stock prices for breached companies and those that suffer massive outages, including global ones. What seems to happen is a nose dive, and then within 120 days or so they're back nearly to where they were. This goes beyond tech. Plus, if it weren't for BitLocker (Microsoft, configured by end user admins,) the fix of deleting the file could have been deployed through GPO/scripts, etc., rather than forcing everyone to send out recovery keys for individual systems.

It's odd to watch this overcorrection from the 90s in terms of updates/patching. Now, most just auto deploy updates every single day with no staged rollout or QA of what the vendor is updating. I would have been handed my arse if I let that happen back in the day.

$232 now

waiting..