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Why Fastly Stock Is Crashing Today

TheMotleyFool

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Why Fastly Stock Is Crashing TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Shares of Fastly (NYSE: FSLY) were plummeting today after the edge cloud platform company reported a worse-than-expected loss in its first quarter and as it announced that its board will start its search for a new CEO.

The tech stock was down by 18.1% as of 1:16 p.m. ET.

Fastly's loss of $0.15 per share in the quarter was worse than analysts' consensus estimate of a loss of $0.14 per share and the $0.12 loss per share in the year-ago quarter.

Source Fool.com

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