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Why CrowdStrike, Varonis, and Cloudflare Soared on Tuesday

TheMotleyFool

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Why CrowdStrike, Varonis, and Cloudflare Soared on Tuesday

Many of the business technology and cybersecurity specialists that saw their share prices decimated over the last week breathed a huge sigh of relief on Tuesday. Cloud security expert Cloudflare (NYSE: NET) closed the day 10.8% higher, endpoint security specialist CrowdStrike (NASDAQ: CRWD) gained 10.8%, and data protection veteran Varonis (NASDAQ: VRNS) posted a gain of 8.5%. None of these companies had any news of their own to share today, and the cybersecurity industry was pretty quiet as a whole. These big moves were triggered by a downtick in U.S. Treasury bond yields, offering a respite from relentlessly rising yields over the last month.