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CrowdStrike outage nets short sellers $US978 million windfall

Pelican Press

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CrowdStrike outage nets short sellers $US978 million windfall

Short sellers piling into bets against CrowdStrike have been rewarded after a botched software update from the firm sparked a global IT outage and sent shares plunging to their worst two-day stretch on record.

The contrarian group reaped paper profits of $US978 million ($1.47 billion) on the cybersecurity software company’s 23 per cent two-day drop, according to data from S3 Partners.



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