Anyone know of any news hitting CRWD? It’s down far worse than the market and other cyber stocks. I found that Abhishek Maheshwari, CAO, resigned August 4th, but that shouldn’t be a sign of anything, and he’s staying on until September 20th.
I’m speculating it has to do with the breach encountered at Accenture whom is a partner of both Cloudflare and Crowdstrike. It’s not a good look for the company but it’s not known yet whether either providers are installed to protect their network/devices.
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Ah. Well, CRWD turns lemons into lemonade. Regardless if their responsible for the breach or not, their AI will learn from it. BTW: NET is not down nearly as much, either.
Here is the link to a news article regarding the hack.
https://www.zdnet.com/article/accenture-says-lockbit-ransomw…
Does anyone know if Accenture uses Crowdstrike? I found sources that claim they are direct competitors.
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https://www.accenture.com/us-en/services/security-index
Accenture lists Crowdstrike as an "ecosystem partner "
Every time there is a big hack a few companies get the blame. Even though in fact only a few insiders know the facts. Some days the market wants an excuse to go down ,other days it doesn’t.
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Here is the link to a news article regarding the hack.
https://www.zdnet.com/article/accenture-says-lockbit-ransomw……
Does anyone know if Accenture uses Crowdstrike? I found sources that claim they are direct competitors.
This article doesn’t mention CRWD at all but does make the statement below about vulnerabilities in Fortinet. It doesn’t state that Accenture uses Fortinet products but since the article is about the Accenture hack you could argue that it’s at least somewhat implied. Even of you argue that it isn’t implied, FTNT was the only company called out as having a vulnerability, and while CRWD was down ~10% over the last couple days FTNT was only down ~1.7%. Doesn’t make a lot of sense.
The Australian Cyber Security Centre released an advisory on Friday noting that after a small dip in operations, the Lockbit ransomware group had relaunched and has ramped up attacks.
Members of the group are actively exploiting existing vulnerabilities in the Fortinet FortiOS and FortiProxy products identified as CVE-2018-13379 in order to gain initial access to specific victim networks, the advisory said.
Long both CRWD and FTNT, for now…
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As far as I can tell, the hackers took advantage of Fortinet’s Forticlient, but Fortinet didn’t get dinged at all. If this is true, wouldn’t it benefit CRWD? I think Falcon would end up taking over the entire Accenture account.
Or is that just an ignorant assessment?
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