Why Fastly Shares Rose 26% in June
Shares of Fastly (NYSE: FSLY) gained 26.3% in June, according to data from S&P Global Market Intelligence. The content delivery network (CDN) specialist suffered a significant service outage on June 8, but the company was able to turn this unfortunate event into a source of investor-pleasing strength. Here's how.
One of Fastly's customers changed its service configuration on June 8. This happens all the time -- sometimes hundreds of times in a single day -- but this particular update triggered a previously undiscovered bug in Fastly's systems that brought the CDN network to its knees.
Fastly was immediately aware of the problem, found and disabled the errant configuration quickly, and brought its network back to full strength within 49 minutes. While Fastly worked through the issue, large portions of the public internet were unusable because many sites and apps either use Fastly's CDN directly or depend on third-party services that require a working Fastly setup.
Source Fool.com
