Is this why Fastly stock is losing money?

Fastly (FSLY) stock rose quietly and it's now going down a lot more than it gained in the past few days. The stock is in the cloud computing business and its biggest customer is Tiktok. According to Fastly, Tiktock has reduced usage. We are not sure if this is the only reason why the stock has gone down but we can say that if Tiktok reduces usage, this means that they will make less money from Tiktok. 

Is this why Fastly stock is losing money? Fastly dips from $136.00 52 weeks high to $85.  

Also, Fool added that Fastly now expects to report Q3 revenue in the range of $70 million to $71 million, about 5% less at the midpoint than the previous guidance range. Management cited lower usage of the platform by its largest customer (TikTok) as the main reason. 

We will continue to monitor Fastly and report to you all on how the stock is doing.  

Be the first to comment!

You must login to comment

Related Posts