From 24/7 Wall St. · David Moadel · · 1m 20s
Fastly Stock Drops 7% After Investor Day
Fastly shares fall 7% as investor day meets profit taking, while Cloudflare and Akamai rise.
In brief
Fastly shares fall 7% as investor day meets profit taking, while Cloudflare and Akamai rise. Fastly stock dropped 7% after its Investor Day event, with peers Cloudflare and Akamai trading higher due to profit taking and expectations. Originally reported by 24/7 Wall St..
Fastly Holds Investor Day
Fastly held its long-awaited Investor Day at the Nasdaq MarketSite, yet shareholders responded by selling the stock hard while rivals Cloudflare and Akamai climbed.
Fastly Stock Falls 7%
Fastly stock is at $25.47, down 7% in Tuesday afternoon trading, a sharp reversal after a run that carried shares deep into the event.
Cloudflare and Akamai Rise
Cloudflare stock is at $354.34, up 0.8%, and Akamai Technologies stock is at $118.53, up 0.9%.
Investor Day Focus
Tuesday’s Investor Day at the Nasdaq MarketSite in New York put Fastly’s platform strategy, product roadmap and financial outlook in front of shareholders.
Profit Taking Explained
No adverse company news from Fastly has been verified for the session, which leaves profit taking after a large prior run as the mechanism the figures support.
What to Watch Next
Fastly’s next test is whether the disclosures from the Investor Day translate into upgraded model assumptions when written research lands later this week.
At a glance
Fastly stock dropped 7% after its Investor Day event, with peers Cloudflare and Akamai trading higher due to profit taking and expectations.
