Why CrowdStrike Stock Fell Today
Shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD), a cybersecurity company, tumbled again today on no company-specific news. Rather, the tech stock likely fell as U.S. Treasury yields rose today, which put pressure on growth stocks.
Crowdstrike's stock was down by 4.8% as of 3:46 p.m. ET.
Investors often flee high-growth stocks with loftier valuations when Treasury yields rise because it means a company's future profits will be worth less than they are right now. The 10-year Treasury yield was about 1.66% as of this writing, up from 1.52% at the end of last week.
Source Fool.com
