CrowdStrike’s Attorney Allays Delta Liability Fears; Retail Turns More 'Bullish' Amid Market Sell-off
Retail traders noted CrowdStrike’s lawyer mitigating concerns about its potential liability from the global IT outage. Amid a global market meltdown, CrowdStrike shares rose 1.89% to $221.92 on Monday.
On Stocktwits, retail sentiment was ‘bullish’ (58/100). CrowdStrike denied responsibility for Delta’s flight cancellations in July. The outage was linked to a faulty software update, but CrowdStrike’s lawyer stated its exposure is capped at under $10 million. This has alleviated investor concerns.
Bullish chatter on Stocktwits suggests retail investors see the 43% slide in CRWD’s stock over the past month as a buying opportunity. Wedbush reiterated its ‘Outperform’ rating with a $315 price target.
Investors are looking forward to CrowdStrike’s second-quarter results on August 28, with analysts expecting an EPS of $0.98.
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