CrowdStrike Opens For Trade Well Above IPO Price

CrowdStrike Holdings, Inc. CRWD shares opened for trade Wednesday at $63.50. The IPO of 18 million shares was priced at $34 per share. The stock is trading on the Nasdaq under the symbol CRWD.

The lockup period on CrowdStrike is 180 days. This is a contractual restriction preventing insiders who acquired shares of a company's stock before it went public from selling the stock for a stated period of time after it goes public.

See Also: CrowdStrike IPO: What To Know About The Cybersecurity Unicorn's Debut

Founded in 2011, CrowdStrike was established with the mission of "reinventing security for the cloud era" to take advantage of the opportunity presented by numerous cyberattacks. The company uses a new approach that uses the network effects of crowdsourced data applied to modern technologies such as artificial intelligence, cloud computing and graphic databases.

At time of publication, CrowdStrike traded at $62.22 per share.