Hey Porter,
Why did these guys drop from $100 to where it is now in 6 months. I like what they do and their client list is impressive.
I found my answer here so I'm sharing in case someone new like me asks the same question: Like you I'll look for an in around $40 like you but maybe $50. Plus I like the Fool.com. I read their newsletter SA and Rules Breakers.
https://www.fool.com/investing/2021/06/14/near-a-1-year-low-is-fastly-a-buy/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Fastly (NYSE:FSLY) is a promising content delivery service provider whose stock has gone essentially nowhere when comparing prices from this time a year ago.
Its strong run-up in 2020 evaporated in October after the company's biggest client, ByteDance, the Chinese owner of Tiktok, pulled the plug on its content delivery services order with Fastly after former President Donald Trump issued an executive order that threatened to ban transactions with Tiktok by American businesses, citing privacy concerns. Trump called for TikTok to be sold to an American company if it wished to avoid further sanctions.
On June 9, President Joe Biden rescinded Trump's executive order and issued new orders that set criteria for the government to evaluate the risk of apps (like TikTok) connected to adversarial countries (like China). The new orders effectively get TikTok off the hook with regards to the Trump temporary ban efforts. The negotiations to sell TikTok to a U.S.-based company are on hold and now unlikely to be completed. Unfortunately, the loss of Fastly's then-largest customer -- which accounted for 12% of its revenue last year -- is potentially permanent.
Is there any hope for Fastly's stock price to recover its upward trajectory after such a setback?
