Cloudflare stock closed the Nov. 18 trading session 2.83% lower at $196.53. The outage exacerbated the ongoing sell-off of the stock, and the closing price is 22.4% lower than the stock's peak closing price of $253.30 on October 31.

Cloudflare co-founder and CEO Matthew Prince apologised in the post late Tuesday, stating that this outage was the worst the company has experienced since 2019.

In a blog post, Cloudflare CEO Matthew Prince explained the cause of the outage that took a lot of websites offline on November 18.

Cloudflare experienced a "spike in unusual traffic” shortly before errors broke out across many major websites it serves, the internet infrastructure company told Newsweek. Read the full story here.

Many popular internet services experienced slowdowns and outages Tuesday morning, with the major web infrastructure company Cloudflare saying a bug led to broad problems on its network.

According to Lee, a configuration file like the one Cloudflare describes “drives routing security policies, load balancing decisions, and how traffic is distributed globally.” If the file suddenly increases in size, “it can trigger slower parsing, memory issues, CPU contention, or logic failures inside the systems that rely on it,” Lee adds.

ABC News’ Linsey Davis spoke with ABC News contributor Mike Muse, about web infrastructure company, Cloudflare, resolving an issue on its network, which temporarily disrupted services.