Why Confluent Stock Was Tumbling This Week
One of the more beaten-down tech stocks over the past month or so has been data streaming specialist Confluent (NASDAQ: CFLT).That trend continued in the past few days, as according to data compiled by S&P Global Market Intelligence, its share price had shed more than 19% week to date as of late Thursday evening. A pile of analyst price target cuts following an earnings report did the stock no favors.Often, even when a shunned stock has decent news to report it can be vulnerable to a sell-off. That's what happened Thursday when the market reacted to Confluent's first-quarter earnings report. Continue reading
One of the more beaten-down tech stocks over the past month or so has been data streaming specialist Confluent (NASDAQ: CFLT).
That trend continued in the past few days, as according to data compiled by S&P Global Market Intelligence, its share price had shed more than 19% week to date as of late Thursday evening. A pile of analyst price target cuts following an earnings report did the stock no favors.
Often, even when a shunned stock has decent news to report it can be vulnerable to a sell-off. That's what happened Thursday when the market reacted to Confluent's first-quarter earnings report.
