Previous Close | 12.70 |
Open | 11.90 |
Bid | 12.25 |
Ask | 13.85 |
Strike | 40.00 |
Expire Date | 2023-01-20 |
Day's Range | 11.90 - 12.70 |
Contract Range | N/A |
Volume | |
Open Interest | 3.39k |
Fastly (NYSE: FSLY) and Cloudflare (NYSE: NET) both host content delivery networks (CDN), which accelerate the delivery of digital media to websites and apps by storing cached copies on "edge" servers. The global CDN market could grow at a compound annual growth rate (CAGR) of 26.8% between 2022 and 2026, according to Technavio, as the growing usage of cloud-based services, streaming media, and mobile apps drives more companies to store their content on edge networks. Revenue rose 21% year over year in the first quarter of 2022, but Fastly expects revenue to increase just 14%-17% to $405 million-$410 million for the full year.
The share prices of Appian (NASDAQ: APPN), Fastly (NYSE: FSLY), and Alteryx (NYSE: AYX) were all climbing today as some investors appear to be moving back into the tech sector. Investors have been particularly wary of technology stocks recently as inflation has climbed to a 40-year high, but the rally from these three stocks today shows that some investors may think the sector has finally reached its bottom.
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