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Why Fastly Stock Is Falling Today

TheMotleyFool

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Shares of Fastly (NYSE: FSLY) fell as much as 6.4% on Friday morning. The content delivery network specialist counts Chinese social media network TikTok as its largest customer, and that revenue stream will dry up unless TikTok owner ByteDance finds a buyer for the American part of the service before Sept. 15. On Thursday evening, President Donald Trump said that he won't extend that deadline for any reason.

Speaking to reporters while boarding a flight to Michigan, Trump didn't mince words.

"We will either close up TikTok in this country for security reasons, or it'll be sold," Trump said. "I'm not extending deadlines. No. It's September 15. There will be no extension of the TikTok deadline."

Source Fool.com

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