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Why CrowdStrike, Snowflake, and Datadog Plunged Today

·4 min read
Why CrowdStrike, Snowflake, and Datadog Plunged Today

Shares of Snowflake (NYSE: SNOW), CrowdStrike Holdings (NASDAQ: CRWD), and Datadog (NASDAQ: DDOG) all fell hard Tuesday, down 5.7%, 6.6%, and 5%, respectively, as of 12:30 p.m. ET. CrowdStrike did unveil a new innovation today, but it appears macroeconomic issues enhanced by a bad growth outlook from the International Monetary Fund (IMF) is overwhelming any company-specific news today. Lower growth wouldn't be good for anyone, especially growth stocks.