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LivestreamMenuCrowdStrike Holdings still looks attractive amid a broader artificial intelligence-linked cybersecurity boom, even after a recent impressive rally, Virtus Investment Partners chief market strategist Joe Terranova told CNBC’s ” Halftime Report ” on Monday. The investor noted that CrowdStrike has more room to run, even after soaring 83% since April 10. Demand for cybersecurity solutions is “really strong” as broad artificial intelligence adoption raises concern that software will be hacked, Terranova added. “I’m buying the momentum,” Terranova said. “You can’t be afraid of price when the momentum factor is in control.” Interest in solutions that detect and repair vulnerabilities in software is on the rise, particularly after Anthropic unveiled its new AI model Mythos on April 7. The debut spurred fears that the technology could be used to facilitate more frequent and damaging software hacks. The Global X Cybersecurity ETF , which trades under the ticker BUG, is up 48% since that April 10 low. CRWD 3M mountain CrowdStrike is up 83% since the April 10 low. Buying opportunity CrowdStrike has lost some of its post-Mythos gains this month due to profit taking and a broader rotation out of the technology sector. And while it has recovered some of those losses over the past week, the stock is still trading nearly 12% below its 52-week high of roughly $785 reached on June 1. Terranova noted that the recent price action makes now a good time to scoop up shares of CrowdStrike, adding that the stock is likely to rally again soon. “Sentiment is a powerful force,” Terranova said. “We’ve energized the bullish sentiment the last several days.”Read More
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