Why Fastly's Stock Popped Today
Shares of Fastly (NYSE: FSLY) rose Wednesday morning after President Trump signaled that he wants Congress to work on economic stimulus moves that could be passed quickly. That contradicted the statement he made on Tuesday that he wouldn't negotiate with Congress on a new emergency stimulus measures until after the election.
Shares of the cloud-computing services company were up by 14.4% as of 12:20 p.m. EDT.
Fastly's stock price surge appeared to be a bit of a positive overreaction by investors, considering the S&P 500 was up by just 1.3%. If a new economic stimulus package including checks for U.S. citizens gets passed sooner rather than later, it would be a good thing for the overall economy, but major share price jumps like the one Fastly just took are usually the result of company-specific news.
Source Fool.com
