Why CrowdStrike Stock Rallied on Monday
Shares of CrowdStrike (NASDAQ: CRWD) were trading higher on Monday. The cloud-based cybersecurity specialist jumped as much as 3.2% in early trading and were still up 2.3% as of 12:53 p.m. ET.
Investors were relieved to get clarity about the company's banking relationships, which were in focus as the week began.
The collapse of Silicon Valley Bank (SVB), a subsidiary of SVB Financial Group, has had investors running for cover and reviewing regulatory filings to see which technology companies might be exposed. A quick perusal of CrowdStrike's annual report reveals a banking relationship with SVB, but things weren't as bad as investors had feared.
Source Fool.com
