CrowdStrike Holdings, Inc. (NASDAQ:CRWD) experienced a significant decline in its stock price following an incident involving a company update that affected products from Microsoft Corporation (NASDAQ:MSFT).
This resulted in widespread outages across various key sectors globally.
In a statement on Saturday, CrowdStrike said it is currently assisting affected customers due to a flaw discovered in a specific content update for Windows hosts. The incident has not disrupted Falcon Complete and OverWatch services, it said.
The Microsoft-CrowdStrike incident impacted businesses worldwide, including airlines, banks, media and even 911 services, and has highlighted a heavy reliance on a few key companies.
"We assure our customers that CrowdStrike is operating normally and this issue does not affect our Falcon platform systems. If your systems are operating normally, there is no impact to their protection if the Falcon sensor is installed," CrowdStrike said.
Also Read: Microsoft Outage: What States, Services, Companies Saw The 'Blue Screen Of Death
The issue does not affect Mac and Linux hosts, it said.
"This was not a cyberattack," company noted, adding that the "issue has been identified, isolated and a fix has been deployed."
The company said that it is advising organizations to maintain communication with CrowdStrike representatives.
"Our team is fully mobilized to ensure the security and stability of CrowdStrike customers," the company said.
According to Benzinga Pro, CRWD stock has gained over 105% in the past year.
CrowdStrike apologized for the disruption and said efforts are underway to collaborate closely with all affected customers to restore systems promptly, enabling it to continue delivering essential services to its clientele.
Investors can gain exposure to the stock via TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ) and First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR).
Price Action: CRWD shares closed lower by 11.1% to $304.96 on Friday.
Shares fell 0.91% to $302.16 in the after-hours session.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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