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CrowdStrike's stock rocketed 87% higher at the IPO (June 12), jumping from its pre-IPO price of $34 to $64 per share when it opened to the public.
For months now, we've been saying CrowdStrike Holdings Inc. (NASDAQ: CRWD) would be an important IPO to watch, but that we couldn't recommend buying it at the IPO. Instead, we suggested waiting six months to a year, or even buying into cybersecurity ETFs to avoid potential losses.
And it looks like we were right.
You see, the only investors who got the 87% gain were institutional investors who got access to shares at the pre-IPO price. For investors like us, the stock is down nearly 9% to $58. That's what it's dropped since shares first traded on the exchange.
But now that CrowdStrike has gone public, is it worth a buy?
We'll tell you everything you need to know about the stock, plus when buying in at the IPO makes sense…