NEW YORK: Short sellers piling into bets against CrowdStrike Holdings Inc have been rewarded after a botched software update from the firm sparked a global information technology (IT) outage and sent shares plunging to their worst two-day stretch on record.
The contrarian group reaped paper profits of US$978mil on the cybersecurity software company’s 23% two-day drop, according to data from S3 Partners LLC.
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