Why CrowdStrike's Stock Is Trading Lower Today

CrowdStrike Holdings, Inc. CRWD shares are trading lower amid tech sector weakness as the sector continues to sell off following August strength. The company also announced it will acquire Preempt Security for approximately $96 million and will not update its third-quarter guidance.

CrowdStrike expects to pay approximately $86 million in cash and $10 million in stock and options subject to vesting conditions.

CrowdStrike's stock was trading down 3.33% at $133.90 per share on Thursday at the time of publication. The company has a 52-week high of $153.10 and a 52-week low of $31.95.