After the recent widespread global IT outage, seemingly caused by cybersecurity company CrowdStrike (NASDAQ: CRWD) performing a faulty update to the Microsoft (NASDAQ: MSFT) platforms, an old warning by former United States President Donald Trump has resurfaced.
Specifically, during a nearly hourlong phone interview with Fox News show ‘Fox & Friends,’ on November 22, 2019, Trump defended his administration’s freeze on military aid to Ukraine that year, as well as his July 25 call with Ukrainian President Volodymyr Zelensky, in which he referred to the issue.
CrowdStrike’s Ukraine connection?
Indeed, during the Zelensky call, the former President had made a brief reference to CrowdStrike, suggesting a connection and adding that he would like to have Attorney General William Barr call “you or your people, and I would like you to get to the bottom of it,” per the White House transcript. As he said:
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“I would like you to find out what happened with this whole situation with Ukraine, they say CrowdStrike. I guess you have one of your wealthy people. The server, they say Ukraine has it.”
According to the arguments he provided during the ‘Fox & Friends’ interview, Trump accused Ukraine of interfering in the 2016 election, claiming CrowdStrike was “a Ukrainian company” harboring a hacked server belonging to the Democratic National Committee (DNC). As he alleged at the time:
“It’s very interesting. They have the server from the DNC. The FBI went in, and they told them, ‘Get out of here, we’re not giving it to you.’ They gave the server to Crowdstrike, which is a company owned by a very wealthy Ukrainian. And I still want to see that server.”
However, NBC News wrote to debunk Trump’s claims of a Ukraine connection, pointing out that the DNC had hired the California-based publicly traded firm CrowdStrike to investigate a breach that turned out to be a Russian hack aimed at disrupting the US election.
Furthermore, the media outlet observed that CrowdStrike’s largest holder was Warburg Pincus, a New York-based private equity firm, although one of its founders was Dmitri Alperovitch, a Russian-born American citizen, suggesting this might have been what Trump was getting at.
CrowdStrike stock price since Trump’s warning
That said, since Trump’s warning at ‘Fox & Friends’ about the prominent cybersecurity company, CrowdStrike stock has increased in value by 394.41%, considering its price on the day of the phone interview stood at $54.20, and at press time, it amounts to $267.97.
At the same time, the current price of CrowdStrike stock reflects a 3.11% increase on its daily chart, as opposed to the 22.82% decline across the previous week, adding up to the 29.10% drop in the past month, according to the most recent data retrieved on July 24.
In other words, CrowdStrike stock has made significant advances in price since Trump’s warning and remains a strong performer in the stock market despite its recent hiccup. That said, doing one’s own research and keeping up with any CrowdStrike news is critical when investing.
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