CrowdStrike: What was the impact of the global IT outage

Published On Sep 23, 2024, 7:18 PM

CrowdStrike faced significant backlash following a major IT outage caused by a rogue software update on July 19, which impacted millions of computers globally. This disruption affected various sectors, including healthcare, where GPs struggled to manage patient records and referrals. Affected individuals experienced delayed treatments and disrupted travel plans. The financial repercussions for small businesses were substantial, with losses reported in the hundreds to thousands of pounds. CrowdStrike's management is set to address these issues at a US Congress hearing, emphasizing their commitment to preventing future incidents.

Read full article

Stock Forecasts

CRWDView CRWD chart on TradingView

Negative

The recent IT outage has raised concerns regarding CrowdStrike's operational reliability, which may affect investor confidence. However, the company is actively addressing the situation through congressional testimony and commitments to improve practices. Depending on the effectiveness of these measures and market sentiment, investor outlook may shift as they gauge CrowdStrike's recovery and long-term reliability.

Related News

Gov. Gavin Newsom of California Forces a Rethink of A.I. Rules

Sep 30, 2024, 8:09 AM

Gov. Gavin Newsom’s decision to veto wide-ranging set of rules for artificial intelligence companies underscores the political difficulty of policing the technology.

NVDA
CRWD

How pen and paper comes to the rescue in an IT crisis

Sep 26, 2024, 7:04 PM

Firms are advised to practise operating with pens and paper in case of a computer meltdown.

CRWD
VEEV

CrowdStrike boss apologises before US Congress for global IT outage

Sep 24, 2024, 5:22 PM

Adam Meyers, a senior vice president with the IT firm at the heart of July's mass outage, faced a grilling by US lawmakers.

CRWD