CFLT - 1 Growth Stock Down 76% to Buy Hand Over Fist
Investing in technology stocks has not been easy in 2022. A company losing half of its value would've been a sign of severe fundamental issues about a year ago, but now, it's a reflection of a very difficult economic environment that has shattered investors' confidence.
With inflation soaring and interest rates on the rise, consumers have less spending power, and many businesses are experiencing slower growth. But that's not true for all of them -- some companies make money by serving other businesses rather than consumers, and they've been a relative bright spot this year.
Confluent (NASDAQ: CFLT) is one of them. Its stock has declined 76% from its all-time high, but the data specialist has raised its 2022 full-year revenue guidance not once but twice. That means this could be a buying opportunity, especially for the long term. Here's why.
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1 Growth Stock Down 76% to Buy Hand Over Fist