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Could Confluent Stock Help You Become A Millionaire?

TheMotleyFool

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Could Confluent Stock Help You Become A Millionaire?: https://g.foolcdn.com/editorial/images/736701/software-professionals.jpg

Confluent (NASDAQ: CFLT), the former cloud division of LinkedIn which was spun out into an independent company in 2014, went public on June 24, 2021. It priced its IPO at $36 per share, opened at $44 on the first day, and hit an all-time high of $93.60 on Nov. 5, 2021.

Yet Confluent's stock only trades at around $35 today. The bulls retreated as its fiery growth cooled off, bottom-line losses widened, and rising interest rates popped the stock's bubbly valuation. That roundtrip back to its IPO price is discouraging, but could it actually represent a millionaire-making opportunity for patient investors?

Image source: Getty Images.

Source Fool.com

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