Feb. 22 at 2:16 AM
$CRWD Lowish-exposure
Core EDR monitors systems post-deployment, while Claude scans code pre-deployment different layers. Risk is limited to AppSec expansion. The selloff is ~80% sentiment, 20% real strategic concern
$ZS Very low exposure
Controls network access and traffic in real time. Claude Code Security cannot inspect sessions or enforce policies. Any benefit from fewer vulnerabilities is a distant, multi-year effect. This move is largely unjustified
$NET Low, indirect exposure
CDN, DDoS, and WAF do not overlap with static code scanning. Only marginal competition exists with its developer/AI platform ambitions. Fundamentally the weakest case for a selloff
$RBRK — Negligible exposure
Focused on backup and recovery after breaches. If AI accelerates both attack and defense, breach volume rises—benefiting resilience vendors. The drop is mispriced
The market hit the wrong stack layer and likely has the risk backwards. All of the above are net beneficiaries of Claud code security
