We recently compiled a list of the 10 Stocks Trade Weaker on Disappointing News. In this article, we are going to take a look at where Confluent, Inc. (NASDAQ:CFLT) stands against the other stocks.

Wall Street finished the trading week on a strong note, with all major indices recording gains as investors digested the latest US jobs data, which fell short of expectations.

The tech-heavy Nasdaq posted the largest gain with 0.70 percent, followed by the S&P 500 with 0.55 percent, and the Dow Jones by 0.52 percent.

Ten companies across mixed sectors bucked a wider market optimism, ending Friday in the red territory. In this article, we have listed the 10 worst-performing names and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A team of consultants in suits, discussing the importance of stream governance for real-time data.

Confluent, Inc. (NASDAQ:CFLT)

Confluent, Inc. (NASDAQ:CFLT) saw its share prices drop by 7.12 percent on Friday, a second consecutive day, to end at $26.61 each as investors sold off following the company’s co-founder and CEO’s disposition of shares.

In a regulatory filing, Confluent, Inc. (NASDAQ:CFLT) said its CEO Jay Kreps planned to dispose of 465,000 shares in the company for a total amount of $14.97 million. Over the past three months, Kreps has already sold 232,500 shares.

In other news, Confluent, Inc. (NASDAQ:CFLT) announced its partnership with sccc by stc, a leading cloud services provider in Saudi Arabia, to join the CFLT OEM Program as a managed service provider (MSP) to make data streaming more accessible in Saudi Arabia.

The new partnership aligns with Saudi Vision 2030, an initiative that prioritizes technical innovation by helping accelerate digital transformations across key industries, including finance, retail, healthcare, and public services.

Overall CFLT ranks 5th on our list of Friday's worst performers. While we acknowledge the potential of CFLT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CFLT but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

 

Disclosure: None. This article is originally published at Insider Monkey.