Monday, February 22, 2021

Selling Fastly, Inc FSLY @ $77.80 (5.5% Loss)

 Fastly's troubles begun when it lost TikTok as a customer which was responsible for 15% of revenue.

I would stay in the position if that was the only piece of bad news.

I have spoken to people in the tech space who are familiar with the service. They weren't very impressed, basically saying it's a good service but Akami has closed the gap and now provides a service just as good. With Fastly's high valuation it will have to grow aggressively and to do that it needs new customers and they would have to be impressed.

I'm pretty much break even on the position so exiting.

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