Fastly Stock May Not Bounce Back In Hurry

The stock is trading at the value of $49.25, showing a decline of 0.65%. However, the weekly statistics follow positive dynamics. The surge is equal to 15.88%, adding $6.74 into the market. The price chart during the last month increased from the point of $42.44 to $49.57, accounting for a 15.88% surge.

This rapid growth of last days’ activity brought Fastly’s market capitalization to $5.713 billion. Experts in the edge cloud platform claim that now Fastly is losing the leading position because the Chinese-based platform Tik-Tok influences Fastly’s policy.

Since the start of the pandemic Fastly gained 10%, thanks to the collaboration with Tik-Tok. Sales of the company increased by 14% during the last quarter. In addition, it also enhanced the number of customers from 2,458 to 2,581. The contract with Tik-Tok was signed for 30% higher than it was exactly a year ago. In September, Fastly proclaimed a beta-version of perspective web application firewall. The integration will continue the cyber security of apps and networks.