Short Sellers Reap $461M on $CRWD CrowdStrike Outage

👉 Key Highlights:
📍 Short sellers earned $461 million on CrowdStrike’s 11% stock drop.
📍 Total short interest in the systems software sector rose by nearly $12 billion in 2024.
📍 CrowdStrike shares fell as much as 13% on Monday, extending losses.
📍 CrowdStrike saw the second-largest increase in short selling in the sector this year.
📍 Multiple analysts downgraded CrowdStrike’s ratings and cut price targets.
📍 Guggenheim downgraded shares to neutral, removing the $424 price target.
📍 Scotiabank downgraded shares to sector perform, cutting the price target to $300.
📍 CrowdStrike shares still up about 7% in 2024 despite the selloff.
📍 Wall Street remains largely bullish with 41 buy ratings, 8 holds, and 2 sells.