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Could Cloudflare Stock Help You Become a Millionaire?

TheMotleyFool

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Could Cloudflare Stock Help You Become a Millionaire?: https://g.foolcdn.com/editorial/images/764877/cloud-smartphone-user.jpg

Cloudflare (NYSE: NET) has taken investors on a wild ride since its IPO in 2019. The content delivery network (CDN) provider went public at $15, and it hit an all-time high of $217.25 on Nov. 18, 2021, during the growth stock rally.

But today, Cloudflare's stock trades at about $108. It lost its luster as its revenue growth cooled off, it remained unprofitable on a generally accepted accounting principles (GAAP) basis, and rising interest rates compressed its valuation. Nevertheless, a $50,000 investment in its IPO would still be worth about $360,000 today.

Image source: Getty Images.

Source Fool.com

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