S&P 500's next additions: CrowdStrike, GoDaddy, KKR

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CrowdStrike (CRWD), GoDaddy (GDDY), and KKR (KKR) will be added to the S&P 500 (^GSPC) on June 24. The announcement has sent the companies’ shares moving higher.

Brian Sozzi and Seana Smith discuss this development and CrowdStrike’s outperformance.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This article was written by Gabriel Roy

Video Transcript

All right, let’s take a look at a couple of other trending taker S and P 500 is getting some new additions.

You’ve got crowd strike.

Go daddy and Kkr are going to be added to the index on June 24th.

Now, the announcement sending all three shares moving higher here this morning, we started to see that reaction following the closing bell on Friday.

So uh when, when you talk about some of the out performance here, specifically crowdstrike and says, I know you’ve spoken to the CEO there.

Uh In the past, I have seen some out performance here within crowdstrike given the fact that they are a leader in the cyber security space, lots of optimism on the street.

I was going through some of those the the key goals that they have laid out over the last uh several quarters, 10 billion long term revenue goal here.

Analysts saying that that is going to be the key here, obviously to some of those future stock returns.

So we’re seeing that momentum here carry through at least ahead of today’s opening bell on the heels of that announcement of the S and P No, right.

On Sea and really a good note uh from the Morgan Stanley team had tip Keith Weiss, uh getting this one over to us headline here on his report before this S and P 500 edition, the next $100 billion cybersecurity company.

Now, Keith starts this report saying with an expanding tam that is total addressable market, improving up sells and free cash flow.

We see crowd strikes are passing $100 billion market cap and potentially doubling in 4 to 5 years.

I mean, the world of technology sea is only getting faster.

You need to protect your systems and this company is giving you what you need.