Wednesday, October 14, 2020

FSLY stock: Fastly Plummets After Tension Over ByteDance Curbs Sales

 Here is the article. 

One of Chinese friends in wechat investment group invested 200 shares of FSLY at price of $89.00. 

Fastly shares fell as much as 30% in late trading Wednesday after the cloud-platform provider said revenue for the period will be in the range of $70 million to $71 million, compared with its previous guidance of at least $73.5 million. Analysts were estimating sales of at least $74.2 million.

Fastly has been among the biggest pandemic winners in the stock market this year, with its shares gaining more than 500% as a result of increased internet traffic due to stay-at-home measures.

Content delivery networks use a tech distribution platform to push speedy internet content in front of consumers whether they’re buying cases of beer on Shopify, or loading videos on TikTok.

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