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CrowdStrike (NASDAQ:CRWD) pulls back after nearly doubling on debut

  • CrowdStrike rose as high as $64.55 apiece before pulling back to settle at $58.00, gaining more than 70 per cent on debut.
  • The firm’s competitors include Cisco Systems Inc., FireEye Inc., and Palo Alto Networks Inc.

Shares of cybersecurity firm CrowdStrike Holdings Inc. nearly doubled in its secondary market debut on Wednesday, after opening more than 85 per cent higher from its IPO price of $34 a share. For the fiscal year ending in January, the company’s revenues grew to $249.8 million, a jump of almost 100 per cent, although it reported a loss of $140 million.