Longer-than-expected sales cycles brought on by economic uncertainty made worse by recent bank failures were key to Cloudflare Inc.’s first poor report as a public company, and the stock paid dearly for it.
Cloudflare NET shares were on track for their worst day ever since going public back in October 2019 and previous worst day of a 18.4% drop this past November. The company’s stock isn’t immune to volatility. Last quarter, Cloudflare shares popped nearly 20% in after-hours trading, then cooled down to gains closer to 10%…
