Fastly (NYSE:FSLY) stock is on the move Wednesday as investors speculate about a possible takeover of the cloud computing company.
This talk of a potential takeover of Fastly comes after the company announced Ronald Kisling as its new CFO. This will have him taking over the role from Adriel Lares, who is set to step down on July 5. Lares’ departure was previously announced by the company.
So why do investors care about Kisling joining Fastly as its next CFO. It all has to do with the previous work he has done and what it could mean for the future of the company.
Kisling is a known dealmaker that has helped companies in the past with efforts to sell themselves. Among his previous work is acting as the CFO of Fitbit when it was sold to Alphabet’s (NASDAQ:GOOGL,GOOG) Google. He was also part of the finance team at PGP Corp when it sold itself to NortonLifeLock (NASDAQ:NLOK).
This has some investors in FSLY stock wondering if a sale is on the table for Fastly. If that were to happen, a few potential candidates might want to puck up the company. That includes Alphabet or Amazon (NASDAQ:AMZN).
Talk of a potential takeover for Fastly has shares of FSLY stock seeing heavy trading today. As of this writing, more than 6.6 million shares of the stock have changed hands. That’s a nice boost over the company’s daily average trading volume of roughly 4.8 million shares.
FSLY stock was seeing significant gains earlier today before settling to slightly above its closing price on Tuesday.
Investors looking for more hot stock market stories for Wednesday are in luck.
InvestorsPlace has a plethora of coverage readily available thanks to our daily coverage of the market. That includes the latest news concerning Verb Technology (NASDAQ:VERB), Robinhood getting hit with a fine, as well as our midday market update. You can check out all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.