Why Fastly Stock Dropped Today
Shares of Fastly (NYSE: FSLY) were down 12.5% as of 3:10 p.m. EDT Friday despite a lack of company-specific news. Today's drop appears to be coming in tandem with the broader market's decline -- with the S&P 500 down 0.9% and the tech-heavy Nasdaq down 1.6% as of this writing -- as traders weigh reports that the White House is considering restricting investments in Chinese equities amid the ongoing trade war.
Image source: Getty Images.
It certainly doesn't help that Fastly, a California-based cloud-platform specialist, has been subject to more than its fair share of post-IPO volatility after going public in May. After soaring nearly 50% in August, for example, it has both plunged and popped more than 10% in a single day at least twice before in September alone without news to support the move.
Source Fool.com
