Why CrowdStrike Stock Continues to Drop 9.7% on Tuesday

Motley Fool07-31

Delta just hired an attorney and could be looking for CrowdStrike to compensate it for the problems caused by its software mistake.Delta is just one of many businesses that could be looking to get ...

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NOMS
07-31
NOMS
Surprised that they are not insured

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The stock was already down more than 30% from recent highs, and investors might have thought that the worst was over once the problem had been corrected. But today, Delta Air Lines is reminding investors that this ordeal is far from over, which is why CrowdStrike stock was down 9.7% on Tuesday.Who is going to pay Delta's bill?On July 19, CrowdStrike updated its software. But the update had a defect, which knocked out Microsoft's Windows operating system for businesses around the world. Major airlines were among those with systems that went down, causing widespread travel delays. And now, Delta may be looking for compensation.According to CNBC, Delta just hired prominent attorney David Boies, which suggests that it may be considering a lawsuit against CrowdStrike. The cost of the outage for Delta alone is estimated to be up to $500 million.What can investors expect?There are legitimate reasons for investors to be concerned about future growth for CrowdStrike. While business has been booming, the company may have suffered some reputational damage because of its misstep, which may keep some customers from signing new contracts in the near term.Even if CrowdStrike's revenue doesn't take a hit from this, this news from Delta is a reminder that its cash position could be hurt. A court could rule that it's on the hook for Delta's expenses. And that's just one airline. The company could be facing similar litigation from the other major airlines that went down during the ordeal.With roughly $3 billion in net cash as of the latest quarter, CrowdStrike is in a strong financial position to overcome its costly error. That's good. But if it has to compensate all the businesses that went down in the Windows outage, it will undeniably hit shareholder value, which is why CrowdStrike stock is still falling today.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":333285142913096,"gmtCreate":1722396473262,"gmtModify":1722396476862,"author":{"id":"4096983351989000","authorId":"4096983351989000","authorIdStr":"4096983351989000","name":"NOMS","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4096983351989000"},"htmlText":"Surprised that they are not insured","listText":"Surprised that they are not insured","text":"Surprised that they are not insured","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/333285142913096","repostId":2455954703,"repostType":2,"repost":{"id":"2455954703","pubTimestamp":1722392273,"share":"https://ttm.financial/m/news/2455954703?lang=&edition=fundamental","pubTime":"2024-07-31 10:17","market":"us","language":"en","title":"Why CrowdStrike Stock Continues to Drop 9.7% on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=2455954703","media":"Motley Fool","summary":"How much is its mistake going to cost before all is said and done?","content":"<html><head></head><body><ul style=\"\"><li><p>Delta just hired an attorney and could be looking for CrowdStrike to compensate it for the problems caused by its software mistake.</p></li><li><p>Delta is just one of many businesses that could be looking to get money from CrowdStrike.</p></li></ul><p>Shares of cybersecurity company <a href=\"https://laohu8.com/S/CRWD\">CrowdStrike</a> continue to drop on Tuesday after its major software update problem of more than a week ago. The stock was already down more than 30% from recent highs, and investors might have thought that the worst was over once the problem had been corrected. But today, Delta Air Lines is reminding investors that this ordeal is far from over, which is why CrowdStrike stock was down 9.7% on Tuesday.</p><h2 id=\"id_2205738097\">Who is going to pay Delta&#39;s bill?</h2><p>On July 19, CrowdStrike updated its software. But the update had a defect, which knocked out Microsoft&#39;s Windows operating system for businesses around the world. Major airlines were among those with systems that went down, causing widespread travel delays. And now, Delta may be looking for compensation.</p><p>According to CNBC, Delta just hired prominent attorney David Boies, which suggests that it may be considering a lawsuit against CrowdStrike. The cost of the outage for Delta alone is estimated to be up to $500 million.</p><h2 id=\"id_1023782567\">What can investors expect?</h2><p>There are legitimate reasons for investors to be concerned about future growth for CrowdStrike. While business has been booming, the company may have suffered some reputational damage because of its misstep, which may keep some customers from signing new contracts in the near term.</p><p>Even if CrowdStrike&#39;s revenue doesn&#39;t take a hit from this, this news from Delta is a reminder that its cash position could be hurt. A court could rule that it&#39;s on the hook for Delta&#39;s expenses. And that&#39;s just one airline. The company could be facing similar litigation from the other major airlines that went down during the ordeal.</p><p>With roughly $3 billion in net cash as of the latest quarter, CrowdStrike is in a strong financial position to overcome its costly error. That&#39;s good. But if it has to compensate all the businesses that went down in the Windows outage, it will undeniably hit shareholder value, which is why CrowdStrike stock is still falling today.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why CrowdStrike Stock Continues to Drop 9.7% on Tuesday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy CrowdStrike Stock Continues to Drop 9.7% on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-31 10:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/07/30/why-crowdstrike-stock-continues-to-drop-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Delta just hired an attorney and could be looking for CrowdStrike to compensate it for the problems caused by its software mistake.Delta is just one of many businesses that could be looking to get ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/07/30/why-crowdstrike-stock-continues-to-drop-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4548":"巴美列捷福持仓","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4516":"特朗普概念","BK4528":"SaaS概念","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","CRWD":"CrowdStrike Holdings, Inc.","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4576":"AR","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","BK4566":"资本集团","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4587":"ChatGPT概念","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4535":"淡马锡持仓","BK4577":"网络游戏","BK4538":"云计算","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4550":"红杉资本持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4097":"系统软件"},"source_url":"https://www.fool.com/investing/2024/07/30/why-crowdstrike-stock-continues-to-drop-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2455954703","content_text":"Delta just hired an attorney and could be looking for CrowdStrike to compensate it for the problems caused by its software mistake.Delta is just one of many businesses that could be looking to get money from CrowdStrike.Shares of cybersecurity company CrowdStrike continue to drop on Tuesday after its major software update problem of more than a week ago. The stock was already down more than 30% from recent highs, and investors might have thought that the worst was over once the problem had been corrected. But today, Delta Air Lines is reminding investors that this ordeal is far from over, which is why CrowdStrike stock was down 9.7% on Tuesday.Who is going to pay Delta's bill?On July 19, CrowdStrike updated its software. But the update had a defect, which knocked out Microsoft's Windows operating system for businesses around the world. Major airlines were among those with systems that went down, causing widespread travel delays. And now, Delta may be looking for compensation.According to CNBC, Delta just hired prominent attorney David Boies, which suggests that it may be considering a lawsuit against CrowdStrike. The cost of the outage for Delta alone is estimated to be up to $500 million.What can investors expect?There are legitimate reasons for investors to be concerned about future growth for CrowdStrike. While business has been booming, the company may have suffered some reputational damage because of its misstep, which may keep some customers from signing new contracts in the near term.Even if CrowdStrike's revenue doesn't take a hit from this, this news from Delta is a reminder that its cash position could be hurt. A court could rule that it's on the hook for Delta's expenses. And that's just one airline. The company could be facing similar litigation from the other major airlines that went down during the ordeal.With roughly $3 billion in net cash as of the latest quarter, CrowdStrike is in a strong financial position to overcome its costly error. That's good. But if it has to compensate all the businesses that went down in the Windows outage, it will undeniably hit shareholder value, which is why CrowdStrike stock is still falling today.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":10,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2455954703"}