Investors reassessed opportunities across cybersecurity, defense materials, and identity protection.

  • CrowdStrike hit a record $239.37 as AI security concerns boosted cybersecurity stocks. 
  • Elmet rallied after securing $450 million in U.S. government funding and a potential $2 billion defense contract. 
  • Wells Fargo raised Okta’s price target to $200 from $180 on demand for demand for identity and zero-trust security.

CrowdStrike Holdings (CRWD), The Elmet Group (ELMT) and Okta Inc. (OKTA) hit fresh 52-week highs Monday as investors rotated toward cybersecurity and defense plays. CrowdStrike benefited from renewed AI security concerns, while Elmet gained on major government backing and Okta rallied after Wells Fargo raised its price target. 

Elmet shot up 32%, while CrowdStrike and Okta stocks surged 13% and 11%, respectively. 

AI Safety Debate Creates Fresh Tailwind For CrowdStrike

CrowdStrike stock notched a record high of $239.37 and was the strongest performer in the S&P 500. The advance followed renewed concerns about the risks tied to rapidly expanding artificial intelligence systems. Those concerns emerged after Anthropic CEO Dario Amodei called for a more measured pace of AI development, with Sam Altman also voicing support for greater caution.

The debate has given cybersecurity companies a fresh investment angle. As businesses deploy more AI tools, investors are increasingly focused on protecting corporate data, cloud environments and autonomous systems. That could encourage companies to increase spending on cybersecurity products, potentially benefiting CrowdStrike and other security names such as Palo Alto Networks (PANW) and Zscaler (ZS).

On Stocktwits, retail sentiment around the stock jumped to ‘bullish’ from ‘bearish’ the previous day. 

Tungsten Supply Push Positions Elmet As A Key US Defense Play 

Elmet stock also logged a record high of $25.03 after the U.S. government announced a major financial and procurement commitment. The company is set to receive $450 million through a redeemable preferred-equity investment, while the Defense Logistics Agency awarded a separate contract worth up to $2 billion to support rebuilding the National Defense Stockpile.

Elmet stands out because it produces key defense materials, including tungsten. The metal is important for weapons and military platforms, including the F-35, Patriot systems, and nuclear submarines. The new government backing could strengthen domestic supply chains while reducing reliance on overseas sources. Retail sentiment around the stock improved to ‘extremely bullish’ from ‘neutral’. 

Wells Fargo Boosts Okta’s Price Target 

Okta stock reached a four-year high of $189.72 after Wells Fargo analyst Richard Poland lifted his price target to $200 from $180 and kept an ‘Overweight’ rating. The firm views Okta as a relatively straightforward way to benefit from growing AI-related security requirements without relying heavily on new AI products.

As companies use more AI and automation, they need stronger identity and security tools. This could help Okta grow. Retail sentiment around the stock changed to ‘neutral’ from ‘bearish’. 

So far this year, CRWD, ELMT and OKTA stocks have gained between 20% and 115%.

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