Why Bandwidth Stock Fell 20% in March
Shares of Bandwidth (NASDAQ: BAND) fell 20% in March, according to data provided by S&P Global Market Intelligence. The Communications-Platform-as-a-Service (CPaaS) company benefited in 2020 because it provides crucial services to companies like Zoom Video Communications and Microsoft. But investors are anticipating the end of the pandemic and are no longer as bullish on stocks like Bandwidth.
To be clear, nothing happened with Bandwidth's business to explain why the stock was down in March. The company did raise $250 million by offering convertible notes on March 12. But if anything, Bandwidth stock was up in the days following this announcement, suggesting investors were pleased by this move.
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Source Fool.com
