Down Over 30% Since August, Is Recent IPO Fastly a Buy for 2020?
Our demand for data is insatiable. Driven by smartphones and the rise of streaming video, the amount of information being transported via the internet has boomed in recent years, and network hardware giant Cisco still sees traffic growing over 20% annually through 2022.
That made cloud-based edge computing company Fastly (NYSE: FSLY) an intriguing stock when it had its IPO in the spring of 2019. After surging in its debut and eventually doubling from its IPO price in early fall, shares are down over 35% from their highs in the fourth quarter -- putting many post-IPO investors in the red. It will most definitely be a bumpy ride, but now looks like a good time to pick up a few shares with a new year upon us.
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Source Fool.com