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Fastly Shares Rise Over 7%
August 26, 2020
Cloud edge computing provider Fastly Inc (NYSE: FSLY) saw its shares pop 7.3%. The content delivery network (CDN) specialist provides in helping clients accelerate faster webpage load times by helping manage demand loads.
Clients of Fastly’s include the likes of video streamers, digital publishers, gaming platforms, social media providers and e-commerce websites, helping them deliver a more seamless experience to end users.
Shares of the firm have risen more than four-fold so far in 2020 as the rise in demand for managing the surge in traffic has exploded.
The firm’s shares sold off recently, despite its earnings beat, on news of TikTok’s ban in the US – TikTok contributes around 12% of its revenue.
However, clarifications on the broader ban and the hope that TikTok can continue to operate in the US under new ownership has appeased investors for now.
Regardless, the company is growing fast and looks set to tap into a growing trend for improving the end-user experience. Watch out for this infrastructure-as-a-service (IaaS) provider, it looks likely to keep growing.
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Tim, based in Singapore but from Hong Kong, caught the investing bug as a teenager and is a passionate advocate of responsible long-term investing as a great way to build wealth.
He has worked in various content roles at Schroders and the Motley Fool, with a focus on Asian stocks, but believes in buying great businesses – wherever they may be. He is also a certified SGX Academy Trainer.
In his spare time, Tim enjoys running after his two young sons, playing football and practicing yoga.