Shares of tech and software companies, including Crowdstrike Holdings Inc (NASDAQ:CRWD), are trading higher as the sector rebounds following recent weakness, which has been driven by a rise in yields.
The U.S. 10 Year Treasury yield has risen sharply over the trailing five sessions, jumping from the 1.49% level on December 31 to 1.73% during today’s session. This sharp rise in US Treasury yields has pressured growth sectors. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
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CrowdStrike is an American cybersecurity technology company based in Sunnyvale, California. It provides cloud workload and endpoint security, threat intelligence and cyberattack response services.
CrowdStrike has a 52-week high of $298.48 and a 52-week low of $168.67.