Why Fastly Stock Blasted Ahead Today
Edge computing specialist Fastly (NYSE: FSLY) had an excellent day on the stock market Wednesday, with its share price closing nearly 10% higher. On a generally fine trading session for tech titles, Fastly's rise was also due to internal research indicating significant under-spending by businesses into modern IT services.
Fastly's research indicates that although the vast majority of enterprises around the world are increasing their spending on cybersecurity, they are not doing so wisely.
All told, according to the company's data, while 73% of businesses surveyed are boosting their budgets for these solutions, a mere 61% of their cybersecurity tools are either fully active or deployed for use. Overlap is also a problem, with more than one such tool performing the same function.
Source Fool.com
