Why Fastly Stock Jumped 10% Today
Shares of internet infrastructure outfit Fastly (NYSE: FSLY) were up more than 10% today as of 12:55 p.m. EST. A relief rally seems to be underway for the beaten-down technologist. After yet another attempted run higher in October and early November, shares were down as much as 30% since Nov. 8 due to a lackluster third-quarter 2021 earnings report followed by a general growth stock sell-off fueled by omicron variant worries.
It's been a rough year for Fastly. Since last closing back in on its all-time high in January 2021, the stock has crashed, then rallied, then crashed again multiple times. As of this writing, shares are down 50% on the year with just weeks to go until 2022.
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Source Fool.com
