CFLT - 3 Things About Confluent That Smart Investors Know
2023-04-07 05:10:00 ET
Most tech investors probably recognize Confluent (NASDAQ: CFLT) as the former cloud software division of LinkedIn that was spun off into a new company in 2014. It went public in June 2021, then more than doubled from its IPO price at the peak of the buying frenzy in growth and meme stocks near the end of the year.
But today Confluent's stock trades about 50% below its IPO price of $44. The stock plunged as investors fretted over its slowing sales growth, widening losses, and high debt. I recently discussed those challenges at length in another article , but today I'll focus on three other aspects of its business that also deserve your attention.
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3 Things About Confluent That Smart Investors Know