What's Going On With Fastly Inc Stock?
Portfolio Pulse from Erica Kollmann
Fastly, Inc. (NASDAQ:FSLY) shares are trading lower on Thursday despite being up nearly 95% year-to-date. The company reported record revenue in Q3, with sales of $127.82 million, a 17.8% increase year-over-year, and a smaller-than-expected quarterly loss of 6 cents per share. The stock is experiencing heavy trading volume, surpassing its 100-day average, and is a focus for short-sellers and retail investors, with 8.18% of shares sold short.
November 16, 2023 | 6:37 pm
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Fastly's stock is trading lower despite positive year-to-date performance and strong Q3 results with record revenue and better-than-expected earnings. High trading volume and interest from short-sellers and retail investors are noted.
The stock is trading lower despite positive financial results, which could be due to profit-taking after the significant year-to-date rise or due to the high interest from short-sellers. The heavy trading volume indicates significant investor attention, which could lead to increased volatility in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100