DigitalOcean Stock: Bull vs. Bear
DigitalOcean (NYSE: DOCN) is aiming to be a disruptive force in the cloud infrastructure market by tailoring its services to individual developers, start-ups, and small businesses. The company had its initial public offering in March 2021, and the stock has seen some volatile swings across its relatively short history as a publicly traded company.
Amid turbulence for the broader market and investors pivoting away from growth stocks, the company's share price has slid roughly 56% year to date and is down about 73% from its lifetime high. The stock is also down roughly 16% from where it closed on the day of its IPO. Should investors pounce on this beaten-down cloud stock, or are its shares still too richly valued? There are always at least two sides to every story. Read on for a look at some of the bullish and bearish catalysts that could shape the stock's performance.
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Source Fool.com
