CrowdStrike Shares Drop Amid Global IT Outage

CrowdStrike's shares have plummeted following a botched software update that caused a global IT outage, affecting 8.5 million Microsoft Windows devices and significant sectors like airlines and healthcare. The company's stock has dropped 33% since early July, with a further 13% decline on Monday, leading to downgrades from multiple analysts and significant short-selling profits. CEO George Kurtz and Chief Security Officer Shawn Henry have publicly apologized, acknowledging the severe impact on customers and promising improvements. While some analysts remain bullish on the long-term prospects of CrowdStrike, concerns about reputational damage and potential legal issues persist. Rival SentinelOne saw an 11% increase in shares, benefiting from CrowdStrike's misstep. The incident raises broader questions about the centralization of critical software and its vulnerabilities.