What happened

Shares of Fastly (NYSE:FSLY) were up 15.8% as of 2:40 p.m. EDT Wednesday despite a lack of company-specific news. Rather, note shares not only soared almost 50% in August as Wall Street praised Fastly's first quarterly report since going public in May, but they also pulled back hard earlier this week (without news to support the move) along with a broader group of other cloud-centric tech stocks.

So what

With that in mind, this bounce isn't exactly out of character for a recently IPO'd stock with a relatively small float available to retail investors. It certainly helps, however, that the broader market is climbing today, led by a 0.7% rise from the tech-heavy NASDAQ index as of this writing. 

Stock market chart indicating gains with a dark blue and black background.


Now what

To be clear, I see no new press releases, analyst notes, SEC filings, or merger news that might otherwise directly cause such a rise -- so patient, long-term investors who aren't already accustomed to Fastly's volatility shouldn't lend too much credence to moves like this. Instead, focus first on the health and momentum of Fastly's underlying business. In time, its share price should more closely reflect as much.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.