The market rally is ailing amid a hawkish Federal Reserve, tumbling megacaps and crashing cloud stocks. Here's what you should do now. Read More...
Motley Fool
Why Cloudflare Stock Got Crushed Today
As of 1:36 p.m. ET, the stock was still down 20.3%. The catalyst that sent the cloud computing company plummeting was its quarterly financial report, which was surprisingly robust, but apparently investors wanted more. For the third quarter, Cloudflare generated revenue of $253.9 million, up 47% year over year and surpassing $1 billion in annualized revenue for the first time.
