This comes after rallying on Monday saw FSLY stock climb roughly 15%. That gave the company’s stock a big enough boost to pass up ZM stock in terms of performance. With the stock continuing to rally today, it’s only looking better for FSLY shareholders.
So why exactly are shareholders boosting up FSLY stock? Investors are back on the novel coronavirus kick. This has many searching out for stocks that can perform well if the coronavirus pandemic continues to force people to work from home.
Fastly and Zoom both fit into that category. Fastly for its cloud software services, which includes customers such as Slack (NYSE:WORK). In Zoom’s case, the company providing video conferencing solutions to users, reports Markets Insider.
Fastly has been performing well during the coronavirus. The company’s Q1 earnings report came out on May 7 and it saw it beat out Wall Street’s estimates. At that same time, the company announced a 2020 guidance that will easily have it outperforming analysts’ expectations.
With this strong performance and lockdowns continuing, it looks like Fastly may see another strong performance when Q2 2020 rolls around. That in turn could lead to another spike for FSLY stock and push it even further beyond ZM’s reach.
FSLY stock was up 5.5% as of Tuesday afternoon and is up 240.8% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.