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1 Top Growth Stock Down 31% You May Regret Not Buying Right Now as It Could Soar 91%

TheMotleyFool

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1 Top Growth Stock Down 31% You May Regret Not Buying Right Now as It Could Soar 91%: https://g.foolcdn.com/editorial/images/775949/man-in-specs-holding-a-phone-and-looking-at-a-chart-on-a-laptop.jpg

Cloudflare (NYSE: NET) started 2024 strong with a solid set of results in February that sent its shares soaring. However, the stock's red-hot rally came to a screeching halt last week following the release of its latest quarterly numbers.

The cloud, cybersecurity, and internet services provider released its first-quarter 2024 results on May 2, and the stock plunged 16% as Wall Street was disappointed with its guidance. Cloudflare stock now trades down 31% from the 52-week high it set nearly three months ago.

Let's see what went wrong for the company, and why its sharp pullback is an opportunity for savvy investors looking to get their hands on a growth stock.

Source Fool.com

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