I Almost Never Buy the Dip, But Here's Why I Just Doubled Down on Fastly Stock.
Fastly (NYSE: FSLY) has been all the rage this year. The content delivery network (CDN) and edge computing specialist has been on a tear, with its stock gaining more than 500%. Earlier this month, the company released preliminary third-quarter results that were lower than anticipated, sending the stock into a tailspin. Since that ill-fated announcement on Oct. 14, the stock has tumbled more than 40%.
As a general rule, I avoid buying stocks when they're down, but in Fastly's case, I've made an exception. In fact, I just doubled down on my original investment. Let's see why investors punished Fastly stock and why I think they have gone too far.
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Source Fool.com
