Shares of CrowdStrike Holdings (CRWD) rose in early trading Friday. HSBC upgraded the stock to Buy from Hold following the cybersecurity company's second quarter results.

But as Yahoo Finance executive editor Brian Sozzi notes in the video above, the global IT outage caused by a software update issued by the company impacted a lot of businesses. There could be plenty of ripple effects the stock has yet to absorb.

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This post was written by Stephanie Mikulich.