CFLT - Could This Forgotten Tech Stock Bounce Back in 2023?
Nearly all tech stocks got thrown out with the bathwater in 2022, no matter the true business quality, so there are plenty of companies that have been left for dead. Many smaller, fast-growing companies still have a greenfield opportunity ahead of them, and their competitive advantages seem durable enough to outlast these macroeconomic concerns.
Confluent (NASDAQ: CFLT) is one of these forgotten companies. Shares of the tech stock have slumped 66% over the past year, despite sustained execution. With shares lower and the business continuing to execute, could Confluent bounce back in 2023? Let's find out.
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Could This Forgotten Tech Stock Bounce Back in 2023?