Why Cloudflare Stock Sank Today

Cloudflare (NYSE: NET) stock saw a significant sell-off in Wednesday's trading. The cybersecurity and web services company's share price closed out the daily session down 4.9% and had been off as much as 5.3% earlier in trading.Cloudflare stock saw a valuation pullback today in conjunction with news that the Trump administration plans to implement new tariffs that would apply to foreign semiconductors. The company's share price also took a hit as a result of a new twist in a recently unfolding saga that has called the web services provider's anti-piracy protections into question.President Trump announced yesterday that he'd be introducing a new 25% tariff on foreign-sourced semiconductors, automobiles, and pharmaceuticals. Chips are the only product category in that bundle that should have a meaningful impact on the tech company's business, but the tariffs could lead to higher costs for the tech specialist.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool