Content delivery network (CDN) company Fastly (FSLY) has been a volatile investment this year. After a 72.3% intraday jump on Feb. 12, the stock is up more than 85% this year. However, after posting its Q1 results, it has dropped 38.2% on May 7. The results were quite robust, with the company reporting record quarterly revenue and RPO, and even reporting an adjusted profit.
However, despite these better-than-expected results and the management’s guidance raise, Fastly took the blow as it failed to meet investors’ lofty expectations. The market seemed to be looking for even stronger performance than the company reported.
