The stock price of cybersecurity firm CrowdStrike took a hit on Friday due to a global IT outage affecting its clients worldwide. Shares fell by 11% by the end of trading, showing a slight recovery from a morning dip of around 15%. This drop brought the stock to its lowest level since May.
CrowdStrike CEO George Kurtz assured the public that the issue had been identified, isolated, and fixed. The outage specifically impacted CrowdStrike customers using Windows products. The incident stood in contrast to Microsoft, whose stock only saw minor declines on Friday.
The IT disruption caused by the outage affected various industries, from airlines in the U.S. to banks in Europe and media companies in Canada. The impact was significant, leading to the cancellation of over 2,500 flights in the U.S. and 911 outages in Alaska. Despite this, the New York Stock Exchange continued its operations as usual.
Events like these highlight the importance of cybersecurity and IT resilience in today’s technology-driven world. Companies must remain vigilant and prepared to handle unexpected challenges that may arise in the interconnected digital landscape.
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