Why Investors Slammed Fastly Stock on Tuesday
Fastly (NYSE: FSLY) has had very little news of its own to impart in recent weeks. On Tuesday, though, its stock made a notable move after an analyst downgraded his recommendation on the company.
On the back of that development, investors eagerly traded out of the company, driving it to close more than 5% lower that day. This was a far steeper fall than the S&P 500 index's 0.9% dip.
The pundit getting notably more bearish was Raymond James's Frank Louthan IV; before the market open, he changed his recommendation on Fastly stock to market perform (hold, in other words) from the previous strong buy.
Source Fool.com
