Why Cloudflare Stock Is Soaring This Week

Cloudflare (NYSE: NET) stock is making big gains this week. The cybersecurity and web services company's share price was up 22.7% from last week's market close as of 1:45 p.m. ET this Friday, according to data from S&P Global Market Intelligence. 

After suffering a pig pullback last week due to risk-off sentiment rocking the market, Cloudflare stock is soaring this week thanks to perceptions of lessening risks related to the war in Ukraine and the Federal Reserve raising interest rates. The company's stock has also gotten a big boost from the announcement of an expanded partnership with CrowdStrike Holdings.

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Source Fool.com