CrowdStrike rises 5% to lead rally in cloud-security stocks
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CrowdStrike Holdings (NASDAQ:CRWD) shares climbed 5%, Wednesday, as it and other cloud-based security companies rallied after starting the week with broad losses.
CrowdStrike (CRWD), which specializes in subscription-based software used in a variety of network security services, was seeing strong volume of 3 million shares exchanged by Wednesday afternoon. The company typically has 4 million shares trading hands on a daily basis.

Along with CrowdStrike (CRWD) other companies in the cloud and subscription security sector also rose early and held onto solid gains as trading progressed. Cloudflare (NYSE:NET) shares rose 5.4%, Palo Alto Networks (NASDAQ:PANW) was up by 4.5%, Datadog (NASDAQ:DDOG) rose almost 3% and Okta (NASDAQ:OKTA) rose more than 2% and Fastly (NYSE:FSLY) shares edged up by 1%.
The day's gains came on the heels of losses across the sector on Tuesday.
Zscaler (NASDAQ:ZS) was up by 0.6% one day after Morgan Stanley analyst Hamza Fodderwala upgraded the company's rating to overweight from equal weight. Fodderwala said Zscaler (ZS) is poised to see revenue grow this year due to "a strong pipeline of larger deals" in the works.