Here's Why Fastly Stock Is Soaring Today
Shares of content delivery expert Fastly (NYSE: FSLY) traded 17% higher at 12:30 p.m. EST, bringing the stock back to prices not seen since the middle of October. This boost is based on rumors of buyout interest from networking giant Cisco Systems (NASDAQ: CSCO).
Street Insider reported "vague takeover chatter" between Fastly and Cisco this morning, sparking an immediate uptick in Fastly's share prices. It's unclear exactly where the investing news site found this chatter and neither one of the companies has issued any official statements so far. This jump should be seen as an unsubstantiated rumor at best.
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Source Fool.com
