Is CrowdStrike's Big Mistake a Buying Opportunity?

‘s (NASDAQ: CRWD) The company’s stock price fell 11% on Friday, July 19, after an update to its cloud-based cybersecurity platform triggered a global IT outage at banks, airports, hospitals, retailers, other businesses and government agencies. ATMs stopped working, flights were delayed and essential health services were taken offline.

CrowdStrike CEO George Kurtz said the incident was caused by a “flaw found in a single content update for Windows hosts” and that a fix had already “been deployed.” Microsoft (NASDAQ: MSFT)which was initially blamed for the outage because it only occurred on Windows systems, said it was working with CrowdStrike to resolve the issues.

CrowdStrike certainly made a huge mistake, and the market’s reaction is understandable. But others are wondering whether this news-driven pullback represents a good buying opportunity. Are they right?

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Source Fool.com