If You Invested $1,000 in Cloudflare In 2019, This Is How Much You Would Have Today
Cloudflare (NYSE: NET) attracted a lot of attention when it went public on Sept. 13, 2019. The cloud-based content delivery network (CDN) provider listed its shares at $15, and they started trading at $18. In the two years or so that followed, they rallied to an all-time high of $217.25 on Nov. 18, 2021.
But as of this writing, Cloudflare trades at about $58 per share. Therefore, a $1,000 investment in its IPO would have blossomed to just over $12,000 at its peak -- but would only be worth about $3,200 today.
That steep pullback may have been disappointing for those early buy-and-hold shareholders, but a three-bagger gain in just three and a half years isn't too shabby. Let's look back at why Cloudflare's stock initially skyrocketed, why it tumbled, and where it might be headed in the next few years.
Source Fool.com
