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Why Fastly Stock Plunged Today

TheMotleyFool

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Shares of Fastly (NYSE: FSLY) were diving today after the company reported preliminary third-quarter revenue that was below its earlier guidance. TikTok, its biggest customer, appeared to be the culprit. Fastly also tossed out its full-year guidance and all other forecasts it had made in its second-quarter earnings report.

The news cooled off what had been one of the hottest growth stocks of the year, sending shares down 27.7% as of 9:59 a.m. EDT today.

Image source: Fastly.

Source Fool.com

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