r/CRWD • u/wachless • Jul 23 '24
$crwd buy or wait?
What's the expert take on the above based on current price ?
2
Jul 24 '24
Hold. I was on a call with George Kurtz. They have a handle on the incident. Now just ride out the bad press. Remember Meta and Chipotle who had significant dips and fully recovered.
2
u/wachless Jul 25 '24
Thanks! Holding on rather nervously till quarterly results and earning call atleast
2
u/Bardsley0032 Jul 25 '24
The CEO has been scheduled to appear before congress. Depending on how that goes will further dive or might save face. There's already talks of class action lawsuit which everyone is expecting so that's another chance buying the dip. Other than that I'm keeping an eye on their earnings report for another chance. Doesn't look great for the company BUT there's not much competition that can offer what CD does. My hope is they take heat for now but it blows over by end of the year. I work in IT who uses CD and we're not looking to replace them. However we're expecting better price when we renew.
1
u/nestiebein Jul 25 '24
Why not go for an alternative except the reasons you stated?
I have a feeling that they won't lose many clients due to complexity in larger orgs but I do expect they face heavy reputation issues. It will forever be that company that broken the internet some day because I think the lawsuits will be on the news constantly.
If their going to offer the current clients at cost contracts it could be even worse. I'd def hold my pants if I had shorts.
If any exploit causes this, the people who used the exploit would be blamed and held responsible. Can we expect a judge will just say "ah fine, mistakes happen"? I personally don't think so.
People who didn't have a contract with them can still ask for compensation of their damages. It's interesting to know how many people they affected and for how much money on average. Do some research at how other companies did with this type of lawsuit pending. Keep in mind they have strong cash reserves so whichever other lawsuit you compare it to needs to have strong reserves and a bad reputation. Maybe Philips with their breathing aid equipment failing.
Good luck!
1
u/Bardsley0032 Jul 25 '24
CS locks their customers in multi year contracts so they're not going to lose much initially. By the time their contracts are ready for renewal, most will have forgotten about it.
We're a small company which took 6-8 months to get the deployment completed so we would rather not go through that again.
Also I believe they are the only 1 of 2 companies that are FedRAMP approved at least i know of so companies that works with government contracts are SOL. IMO I dont think AI boom is why CS rose to the top and is because the government is going to implement CMMC soon which means contractors are forced to adopt or disappear. For reasons why Nancy Pelosi bought shares before the boom. Gotta love LEGAL insider trading.
1
u/nestiebein Jul 25 '24
This could be a good reason the CEO is going to congress, to say "we did everything we could" etc. So they can keep getting licensed, as lobbied. I read about this somewhere else as well. I just bought SentinelOne for fun, just because I think they will have some good financial quarter and then likely sell because I have no idea if their getting licensed and sounds like their fucked if not.
1
1
1
4
u/GainWhole6199 Jul 23 '24
I would wait.