CrowdStrike (NASDAQ:CRWD) stock is on the move Thursday after announcing a new partnership with cloud commerce marketplace Pax8.
With this partnership, “Managed Service Providers (MSPs)” will gain access to bundled product offerings for the CrowdStrike Falcon platform. These will be available to them directly through Pax8.
Partners of the cloud commerce marketplace will be able to speak with CrowdStrike directly about the integrations during the Pax8 Beyond 2023 event later this month.
John Street, CEO of Pax8, said the following about the deal:
“The partnership between Pax8 and CrowdStrike unlocks the synergistic potential of our innovative cloud marketplace and CrowdStrike’s exceptional cybersecurity solutions […] With our combined strengths, we are well-positioned to drive advancements and provide unparalleled value in the realm of cybersecurity within the channel.”
CRWD Stock Movement Today
CrowdStrike is seeing a fair amount of movement today alongside its partnership announcement. This has around 4.4 million shares of CRWD stock changing hands as of this writing. This will see the company pass its daily average trading volume of about 4.5 million shares before markets close today.
CRWD stock is slipping 4.2% as of Thursday morning despite its announcement. However, the stock is still up 49.3% year-to-date (YTD).
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
