Down 60%, Is It Time to Buy DigitalOcean Stock?
Cloud computing provider DigitalOcean (NYSE: DOCN) went public last March and quickly became a market darling. The stock rocketed higher in the second half of 2021, topping out around $133 per share. That's nearly triple the IPO price of $47 per share.
Enthusiasm for the disruptive cloud company has all but vanished over the past few months. The stock now trades just a few dollars higher than its IPO price following a brutal decline. Nothing about the company or its story has really changed, but investor sentiment has done a 180.
With shares of DigitalOcean so beaten down, is now a good time to buy the stock? Let's look at the pros and cons of investing in the cloud computing provider.
Source Fool.com
