Why Fastly Stock Tumbled Today
Shares of Fastly (NYSE: FSLY) fell Wednesday after an analyst at Citi initiated coverage of the cloud-computing company with a sell rating on the stock.
The tech company's stock price fell by as much as 6.9% and was down 4.5% at the end of the trading day.
Citi analyst Tyler Radke started coverage of Fastly's stock with a $49 price target and the aforementioned sell rating. Radke is concerned that Fastly may not be able to grow its customer net additions as fast as it has in the past.
Source Fool.com
