If You Invested $2,000 in Confluent in 2021, This Is How Much You Would Have Today
Prior to being acquired by Microsoft in 2016, LinkedIn spun off its cloud software division, Confluent (NASDAQ: CFLT), in 2014. On June 24, 2021, Confluent went public at $36, and its stock opened at $44 and soared to an all-time high of $93.60 on Nov. 5, 2021. Today, Confluent only trades at about $23.
If you had invested a modest $2,000 in Confluent's initial public offering (IPO), your investment would have blossomed to $5,200 before withering to about $1,278. Let's see why Confluent's stock initially skyrocketed, why it plummeted, and where it might be headed this year.
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Source Fool.com