The New York Post is reporting CloudStrike shares plunge 10% as global IT outage prompts mass chaos: ‘A major black eye’.

Cloudstrike experienced a significant setback when a global IT outage caused its shares to plunge by 10%, resulting in widespread disruption and chaos for its users. This outage, which was initially feared to be a cyberattack, was later clarified by the company as not being a security incident. Instead, it was attributed to a technical issue within their infrastructure.

The incident marked a significant setback for CrowdStrike, which had seen shares rise nearly 100% over the last 12 months as companies place more emphasis on cybersecurity and hack prevention.

“I don’t think it’s too early to call it: this will be the largest IT outage in history,” added cybersecurity expert Troy Hunt.

The incident led to major disruptions for businesses relying on Cloudstrike's services, affecting operations and causing frustration among customers. The financial market responded negatively, leading to a sharp decline in Cloudstrike's stock value as investors reacted to the outage and its implications for the company's reliability and future performance.