Benzinga | Aug 24, 2021 12:45PM EDT

Why Are CrowdStrike Shares Trading Higher Today?

CrowdStrike Holdings Inc (NASDAQ:CRWD) is trading significantly higher Tuesday after the Nasdaq announced the company will be added to the Nasdaq-100 Index.

CrowdStrike's addition to the index will be effective at the opening of trading on Aug. 26.

CrowdStrike is a cybersecurity company that specializes in endpoint protection, threat intelligence and attack remediation. The company offers various solutions to supplement security and network operations teams.

CrowdStrike may also be trading higher in sympathy with peer Palo Alto Networks Inc (NYSE:PANW) after the company reported better-than-expected financial results and issued guidance above estimates.

CrowdStrike is set to announce its fiscal second quarter 2022 financial results on Aug. 31.

Price Action: CrowdStrike has traded as high as $272.63 and as low as $108.26 over a 52-week period.

At last check Tuesday, the stock was up 9.08% at $268.15.

Photo by VIN JD from Pixabay.