The clues we get make us question the upside potential. The data does update after 90 days if no rating change occurs within that time period. If we consider it roughly the $70-$100 area from July to September as support then weakness below $85 would not be good. Quotes delayed at least 20 minutes for all exchanges. I'd start adding to that position near $70 (point B), which is a support level from August. Ed Ponsi is the managing director of Barchetta Capital Management, and is the author of three books for publisher Wiley Finance. Copyright © 2020 InvestorPlace Media, LLC. According to a tech publication called TrustRadius, Fastly excels at quickly publishing content that other CDNs have difficulty launching in a short time. As of this writing, he owned shares of Fastly. I am NOT looking f... Bulls Take a Late Hit, But Trading Action Remains Good, Sunrun Is Likely to See Further Downside Testing, I Like the Looks of Gogo Heading Into Next Week, Facebook's Behavior Is Not Exactly Bullish. FSLY stock is worth buying. Thank you for your cooperation. Emotional reactions to volatility can destroy great trades but, if viewed with the right mindset, it can create tremendous opportunities. After a surprise pre-announcement lowering its quarterly revenue guidance, shares of content delivery network Fastly (FSLY) plunged 26.9% in after-hours trading Wednesday. You can reach him on StockTwits at @larryramer. Article printed from InvestorPlace Media, https://investorplace.com/2020/07/fastly-stock-is-a-promising-investment-on-pertinent-innovations/. 2020 InvestorPlace Media, LLC. DocuSign's pullback makes it attractive for a trade. Bottom-line strategy: Long-time readers of Kamich's Korner may remember me talking about a technique from a founder and trader at Commodity Corp., Amos Hostetter. The trading volume is likely to be very heavy today as traders vote with their feet. Nasdaq Fastly appears to have revolutionized content delivery networks and it has a great deal of room to grow. When a stock is hit this hard, that's the market's way of saying that the problem likely isn't a temporary one. Sellers of RUN have been more aggressive this month. As a I result, I believe that FSLY stock is worth buying at this point, despite its huge gains in recent months and its extremely high valuation. I'm always reticent when it comes to companies that disappoint investors to this degree, because it's usually not a one-quarter phenomenon. Email Real Money's Wall Street Pros for further analysis and insight, © 1996-2020 TheStreet, Inc., Please contact customer support to let us know. In a few short minutes, Fastly lost about 25% of its value. Among the companies in the latter category are Shopify (NYSE:SHOP), Wayfair (NYSE:W) and Microsoft’s (NASDAQ:MSFT) GitHub. On average, they anticipate Fastly's stock price to reach $71.50 in the next twelve months. Get an email alert each time I write an article for Real Money. Moreover, it has already landed multiple rapidly growing companies as customers, and I believe that it can successfully move into new, related sectors. Momentum stocks that are priced for perfection are highly dangerous, he said, and trading at 32 times sales, Fastly was among the highest-valued cloud stocks he followed. Except as otherwise indicated, quotes are delayed. Fastly also offers “support for many types of media, including video” and “makes serving and manipulating images very simple.” TrustRadius added, however, that “Fastly is not the best choice for very small companies and very small deployments, and it does not have the ease of implementation into large cloud … [platform-as-a-service] vendors like AWS or Azure.” But the website contended that “for the use case that it was designed for, Fastly is best-in-class.”. Among the names in that category are BuzzFeed, Vox Media, Wired and wikiHow. Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. I'm getting a lot of questions about cloud computing company Fastly (FSLY). Fastly Stock Is a Promising Investment on Pertinent Innovations, Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. My final entry for Fastly would be near the 200 day moving average, in red. ETF data provided by Lipper. Click the "+Follow" next to my byline to this article. That moving average is currently near $52 (point C). Things will pick up quickly as a variety of sectors start to report providing a better sense of overall expectations. Thank you, your email to has been sent successfully. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month. You’ll get the name & ticker of Matt McCall’s top pick when you tune in to his FREE event. I believe that Fastly, along with other companies that are benefiting from people staying at home more, could pull back 10%-20% when a vaccine for the novel coronavirus is introduced.
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