Fastly Shares Rise Over 7%

Edge computing stocks

Author: Tim Phillips

Date: July 21, 2024

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Cloud edge computing provider Fastly Inc (NYSE: FSLY) saw its shares pop 7.3%. The content delivery network (CDN) specialist provides in helping clients accelerate faster webpage load times by helping manage demand loads.

Clients of Fastly’s include the likes of video streamers, digital publishers, gaming platforms, social media providers and e-commerce websites, helping them deliver a more seamless experience to end users.

Shares of the firm have risen more than four-fold so far in 2020 as the rise in demand for managing the surge in traffic has exploded.

The firm’s shares sold off recently, despite its earnings beat, on news of TikTok’s ban in the US – TikTok contributes around 12% of its revenue. 

However, clarifications on the broader ban and the hope that TikTok can continue to operate in the US under new ownership has appeased investors for now.

Regardless, the company is growing fast and looks set to tap into a growing trend for improving the end-user experience. Watch out for this infrastructure-as-a-service (IaaS) provider, it looks likely to keep growing.

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About the Author: Tim Phillips