Jim Cramer Highlights the Charitable Trust's New Holdings in CrowdStrike

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer looked at recently. Cramer highlighted why the stock has been brought down and shared his thoughts on it, as he commented:

Now, most of what we’ve seen today does seem like panic selling, with some buying of the companies that pay for software… But there are others who see this pattern, and they decide to avail themselves of ETFs that allow them to short the heck out of software such as the iShares expanded Tech Software Sector ETF or the IGV, as it is known… Are the declines overdone? Or are all of these enterprise software plays about to be rendered obsolete thanks to artificial intelligence? As usual… it’s a little more nuanced. I’m of two minds here. One… we ought to take advantage of their sale to pick up the other tech stocks that are being dragged down by the blunt force instrument that is this ETF.

For example, you know what we did today? We bought CrowdStrike for the Charitable Trust. This is a cybersecurity company. It shouldn’t even be in the enterprise software cohort, but it’s being brought down by that stupid ETF. The idea that somehow someone is going to use AI to create a software company that identifies and stops bad guys from North Korea and Albania just ain’t going to happen. I’m calling that fanciful. I have no idea how CrowdStrike got in this stupid ETF in the first place. It doesn’t belong there, and the makers of the index should know better, but they’re faceless people.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity solutions. The company offers protection for endpoints, cloud systems, identities, and data.

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Disclosure: None. This article is originally published at Insider Monkey.