‘Massive fall’: CrowdStrike ‘down about 13.5 per cent’ after major worldwide outage

Sky News Business Reporter Ed Boyd says CrowdStrike is “down about 13.5 per cent” in after-hours trading after a major worldwide tech outage.

A major worldwide tech outage, believed to have been caused by a flawed anti-viral update from US cyber security company CrowdStrike, has plunged many of the world's largest companies into crisis.

“The company that is at the source of this problem is CrowdStrike – founded in 2011 by CEO and founder George Kurtz,” Mr Boyd told Sky News Australia.

“Just looking at CrowdStrike itself: it’s listed on the Nasdaq in the United States … and we can have a look at after-hours trading.

“Right now, obviously, the market is closed, but investors are making bets on where the share price will go when the market opens later tonight in New York.

“Just crunching the numbers, the shares are currently down about 13.5 per cent in after-hours trading, which is a massive fall in any company’s share price.”

[TheJohnny]

Yep .. cashless society is the way to go .what a prime example

[rmcq]

Well... there's the final word in why we should absolutely never agree to a cashless, digital ID centered society. CASH IS KING. PRIVACY IS KING.

[YouShouldThinkYourself]

I've been in IT for 40+ Years, NOW tell me I'm stupid for turning OFF ALL Automatic Updates.
I've still got Windows 7 PCs running 24/7 3+ years NON Stop.
Tell me Windows 7 etc. is "No Longer Supported" and I'll ask you when was the last time you needed support or got it from Microsoft?
Microsoft has been "sending out updates (previously called patches) to fix bugs for 29 years, If they haven't got it right by now they never will.
It used to be standard procedure in all big companies, including Qantas, Anset, IATA and Government department that ANY update to ANY system was installed and run on an isolated Development system and certified BEFORE it got anywhere near a production system, Even patches from IBM or DEC that were to fix knows problems.

[NerysBeck]

Bring back dvds
Use DVDs
Use cash
Use paper

[BetterScam]

No way this is just a mistake. Remember when WEF was saying the next biggest threat is cybercrimes and conspiracy theorists were saying there will be major outages? 😂

[tyrionliu]

And they want you go completely cashless😂

[simonharris]

Someone can't math. 13.5 per cent of 85 is not 16.

[petes_ventures]

Thanks Bill, first covid, now this.. keep squeezing us..

[papa-dtcv]

Who agreed/approved to rush this update on such a global scale.. ? Luckily, planes never crash.

[ETERNITY]

😡😡 HEY ALBO THE HOMELESS WANT TO SPEAK TO YOU WE ARE REAL PISSED OFF 😡😡😡

[larsbliss]

I'm upgrading a customers document imaging system. We are 100% down due to crowdstrike. They are pissed.

[mk]

Might want to test updates before you roll 'em out.. I know.. It's just a wild thought.

[cathybaldry]

They failed to do their jobs. Lives could have easily been at risk. The effects on banks could have easily of screwed up ppls rental payments and make ppl homeless. This company had 1 job to do and they failed miserablyThe extent of the effects show that too much trust was put in this company. Time for these institutions to diversify their risk in terms of who they trust with such sensitive cyber security

[antontsau]

Oh yes. Drop! 13%! Catastrophe!

Direct losses are billions. And what is the liability for company which caused all this, even without asking and possibility to refuse? Zero. Like in all other copyright matters. "You are obliged, you pay and you can be punished, we are... ummm... take your money!".

[OzTrump]

Crowdstrike is also mentioned all through the Q…..stuff.

[Mulder-ms]

It has taken out companies in the Australian mining sector

[shawns]

Their stock should be a few that's the REAL value

[X-cp]

Why does the thumbnail have a laptop that looks like a MacBook? All my Apple products are working fine ;-)

[papa-dtcv]

Will this be Highest record fines event?

[russell_beddyoisken]

Windows Vista Update? - Service Pack 2 no roll back to MS-DO3 3.3 it's the last resort....