NET Today - Jul 12: Cloudflare Faces Red Day

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NET Today - Jul 12: Cloudflare Faces Red Day

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Hey, what’s up? It’s Joey here, your friendly neighborhood investor, breaking down the day for you. Today we’re talking about Cloudflare, ticker NET, and it was a red day for sure—down about 2.7%. Ouch.

So, here’s the scoop. Cloudflare opened up but then it kind of took a nosedive. It got smoked, dropping about seven bucks. The volume was a bit lower than usual, too; looks like folks weren’t rushing to buy.

Now, why’d this happen? Well, it seems like the overall market was actually on the up, but Cloudflare just couldn’t keep up the pace. There was chatter about outages and some layoffs hitting the stock hard. It’s like they were trying to run a marathon but tripped on a rock. Plus, there’s some buzz around other AI cloud stocks, and Cloudflare was just kinda left in the dust.

But hey, on the flip side, there’s some interesting news. Coinbase’s CEO is backing Cloudflare's stablecoin gateway for AI payments. That’s a pretty big deal! It shows that people still see potential in Cloudflare’s tech, especially when it comes to AI. So, it’s not all doom and gloom.

To wrap it up, Cloudflare had a rough day, but there’s still some good stuff happening behind the scenes. Just keep your eyes peeled, you know? Remember, I’m just here to share the info and have a good time chatting about stocks, not giving advice. Catch you later!

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