The stock market ended higher on Wednesday, bouncing back from a sell-off in the previous session. The gains were mainly driven by increases from the banking stocks and a rebound in NVIDIA (NVDA).
Overall, S&P 500 went up 0.5% to 5,842, while NASDAQ increased 0.3% to 18,367.
Tweet of the Day
This is bullish for $NVDA, $VRT, $AMD, $AVGO, $ANET and $SMCI https://t.co/t5BdyoMs05
— David Sharek (@GrowthStockGuy) October 7, 2024
Chart of the Day
Here is the one-year chart of CrowdStrike (CRWD) as of September 25, 2024, when the stock was at $286.
On July 19, CrowdStrike experienced an incident that shook consumers and impacted the stock price, which fell from the high $300s to the low $200s in the days after the incident occurred. This Channel File 291 Incident caused system crashes on Windows computers (Blue Screen of Death) during a Falcon update. Management has since fixed the issue and implemented three actions to ensure this will not happen again including:
- Customers can choose when and where new Falcon content is deployed;
- Enhanced content validator and content interpreter to prevent erroneous content; and
- External review and validation from two independent third-party software security vendors.
Consumers have moved past the outage issue, and management claims business is back to normal. The company delivered 41% profit growth on 32% revenue growth last quarter, including one deal worth greater than $100 million.
CRWD is part of our Aggressive Growth Portfolio and Growth Portfolio.
