Why Confluent Stock Is Sinking Today

Confluent (CFLT -7.05%) stock is seeing a big valuation pullback Friday. The company's share price was down 7.9% as of 2:30 p.m. ET, and had been down as much as 11% earlier in trading.Confluent is moving lower today following a significant insider selling disclosure. The company submitted a filing to the Securities and Exchange Commission (SEC) revealing that co-founder and CEO Jay Kreps planned to sell a substantial amount of company stock.Confluent stock sinks as Kreps sells sharesIn a filing with the SE ...