What happened: Cloudflare (NET) stock seesawed on Monday after falling 23% on Friday.
What’s behind the move: Shares of the cloud security company jumped as much as 3% before slipping back below the flatline following a steep drop on Friday.
The company last week issued a second quarter sales forecast that fell short of analyst expectations and said it would slash roughly 1,100 jobs, or about a fifth of its workforce, as it adopts artificial intelligence tools in its operating model.