Longer-than-expected sales cycles brought on by economic uncertainty made worse by recent bank failures were key to Cloudflare Inc.’s first poor report as a public company, and the stock paid dearly for it.
Cloudflare NET shares closed down 21% at $47.05, their worst one-day drop since going public back in October 2019, topping their previous worst day of a 18.4% drop this past November. The company’s stock isn’t immune to volatility. Last quarter, Cloudflare shares popped after the company’s results cleared the bar set the…
This article was originally published by Marketwatch.com. Read the original article here.
