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Why Fastly Stock Flopped Today

·2 min read
Why Fastly Stock Flopped Today

Few investors were quick to pile into Fastly (NYSE: FSLY) stock on Wednesday. Shares of the content delivery network (CDN) operator closed the day more than 3% lower, on concerns about a fresh acquisition announced by the company. Fastly announced that morning that it has acquired Fanout, a privately held company that, according to the buyer, runs "a platform that makes it easy to build and scale real-time and streaming APIs such as live chat support, e-commerce, video streaming, gaming, collaborative editing, and more."