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