Zinger Key Points
- Fastly shares are trending today and are up nearly 95% year-to-date.
- CEO Todd Nightingale says, "We're proud of the operating performance this quarter, posting record revenue and positive adjusted EBITDA."
- Find out which stock just plummeted to the bottom of the new Benzinga Rankings. Updated daily—spot the biggest red flags before it’s too late.
Fastly, Inc. FSLY shares are trading lower Thursday. However, the stock is up nearly 95% year-to-date, and the company posted record revenue in its third-quarter results.
What To Know:
Fastly shares are dropping on heavy trading volume Thursday. According to data from Benzinga Pro, more than million shares have been traded in the session, exceeding the stock's 100-day average volume of 2.778 million shares.
Fastly, Inc. released its third-quarter financial results on Nov. 1 and reported quarterly losses of 6 cents per share, beating the analyst consensus estimate of losses of 8 cents per share by 25%.
Fastly reported quarterly sales of $127.82 million, representing a 17.8% increase over sales of $108.5 million year-over-year.
FSLY shares have grabbed the attention of short-sellers and retail investors alike. FSLY is one of the top trending tickers of the day on Yahoo Finance, and 8.18% of available shares being sold short, according to data from Benzinga Pro.
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FSLY Price Action: According to Benzinga Pro, Fastly Inc. shares are down by 8% at $15.87 at the time of publication.
Image: Werner Moser from Pixabay
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