Why Fastly Stock Skyrocketed 45.6% in August
Shares of Fastly (NYSE: FSLY) jumped 45.6% in August, according to data from S&P Global Market Intelligence, as investors digested the market's initial negative reaction to the recently IPO'd edge-cloud platform company's inaugural quarterly report as a public company.
Fastly stock plunged nearly 30% in the week following its second-quarter release on Aug. 8, when the company said its revenue had soared 34% to $46.2 million, translating to an adjusted net loss of $9.9 million, or $0.16 per share. Analysts, on average, were modeling a narrower net loss of $0.13 per share on revenue closer to $45 million.
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Source Fool.com
