CFLT - Why Confluent Stock Plunged 23% in April
Shares of Confluent (NASDAQ: CFLT) tumbled by 23.8% in April, according to data provided by S&P Global Market Intelligence . Investors appeared to grow increasingly concerned about how rising inflation would impact its business. Additionally, the market may have reacted negatively to an analyst lowering his price target for the data streaming company's stock toward the end of the month.
Investors pulled back from the stock market -- particularly in the tech sector -- last month as they prepared for an aggressive interest rate hike by the Federal Reserve. The Fed is trying to slow down U.S. inflation that's reached a level not seen in four decades.
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Why Confluent Stock Plunged 23% in April