1 Year After Its IPO, Confluent Stock is Working to Prove the Bears Wrong
Confluent (NASDAQ: CFLT) stock came public in late June 2021 when initial public offerings (IPOs) were trending. At that time, it seemed like newly public companies could do no wrong. But as the market sentiment turned, investors sold off these stocks significantly. Confluent stock, for example, is now trading about 37% lower than its first-day closing price.
Confluent as a company helps businesses stream data in real-time to gain insight and drive innovation quickly. It thrives by helping companies optimize an open-source platform, Apache Kafka, which is popular among Fortune 500 companies.
While this business model is one of the company's most critical resources, the bears warning against Confluent also saw it as the company's most prominent risk. Let's look into why the bears are wrong and why you should consider adding Confluent stock to your portfolio now.
Source Fool.com
