What's Going On With Fastly Inc Stock?

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