Shares of CrowdStrike plummeted as the widely used U.S. cybersecurity company raced to undo the damage from a failed software update that caused a worldwide IT outage, disrupting major airlines, banks and other businesses. Crowdstrike shares were down as much as 20% in premarket trading though they partially recovered later in the day and, as of mid-afternoon ET, were down around 9%. Wedbush senior equity analyst Dan Ives called the outage a “black-eye moment” for CrowdStrike, which serves hundreds of Fortune 500 companies.
“Today CrowdStrike becomes a household name but not in a good way,” Ives said in a note to investors.
