{"id":3163,"date":"2024-06-10T19:58:10","date_gmt":"2024-06-10T19:58:10","guid":{"rendered":"https:\/\/stoxpo.com\/?p=3163"},"modified":"2024-06-10T19:58:11","modified_gmt":"2024-06-10T19:58:11","slug":"crowdstrike-joins-sp-500-shares-surge","status":"publish","type":"post","link":"https:\/\/stoxpo.com\/index.php\/2024\/06\/10\/crowdstrike-joins-sp-500-shares-surge\/","title":{"rendered":"CrowdStrike Joins S&P 500, Shares Surge"},"content":{"rendered":"\n

Cybersecurity Leader Replaces Comerica in Benchmark Index<\/h4>\n\n\n\n

CrowdStrike (CRWD) shares surged up to 10% on Monday following the announcement that the cybersecurity software vendor will join the S&P 500, replacing financial firm Comerica. This change, set to take effect on June 24, often prompts fund managers tracking the index to purchase the newly added stock, driving up its price.<\/p>\n\n\n\n

S&P Dow Jones Indices announced the inclusion of CrowdStrike, along with global investment firm KKR and web domain seller GoDaddy, who will replace Robert Half and Illumina, respectively. This inclusion marks a significant milestone for CrowdStrike, which has consistently been profitable for the past five quarters, a key requirement for S&P 500 membership. With a market cap exceeding $90 billion, CrowdStrike’s valuation is more than double that of the median S&P 500 company.<\/p>\n\n\n\n

Following the news, security ETFs saw gains on Monday, with the First Trust Nasdaq Cybersecurity ETF rising 1.3% and Amplify Cybersecurity ETF, ticker symbol “HACK,” increasing by 1.2%. Evercore analysts noted that their trading desk expects indexers to buy approximately 30 million shares of CrowdStrike as they adjust their portfolios to reflect the index’s new composition.<\/p>\n\n\n\n

“This incredible milestone is a testament to the hard work, dedication, and belief our team, customers, and partners have shown since our inception in 2011,” said CEO George Kurtz in a LinkedIn post over the weekend.<\/p>\n\n\n\n

CrowdStrike\u2019s stock surge on Monday set a new record and brought its gains for the year to 49%, following a remarkable 143% increase in 2023. Earlier this month, the company reported a 33% year-over-year revenue increase to $921 million, reinforcing its strong growth trajectory and market leadership in the cybersecurity sector.<\/p>\n\n\n\n

You might like this article:5 Things You Need To Know Today\u2019s Market Session<\/mark><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cybersecurity Leader Replaces Comerica in Benchmark Index CrowdStrike (CRWD) shares surged up to 10% on Monday following the announcement that the cybersecurity software vendor will join the S&P 500, replacing financial firm Comerica. This change, set to take effect on June 24, often prompts fund managers tracking the index to purchase the newly added stock, […]<\/p>\n","protected":false},"author":1,"featured_media":1583,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"0","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[376,361],"tags":[421,416,418,417],"coauthors":[453],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/3163"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=3163"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/3163\/revisions"}],"predecessor-version":[{"id":3164,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/3163\/revisions\/3164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1583"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=3163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=3163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=3163"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=3163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}