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Why Fastly's Stock Is Gaining Today

By Chris Neiger – Aug 25, 2021 at 12:31PM

Key Points

  • The company is bringing its next-gen web application firewall to Amazon's cloud computing service.
  • Fastly's stock is up about 10% over the past five days.

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The company recently announced it will launch a product on Amazon's AWS.

What happened 

Shares of Fastly (FSLY 0.91%) were climbing again today and were up by 3.5% at 12:00 p.m. EDT. The edge-computing company's stock price gains are likely a result of the company announcing yesterday that its next-gen web application firewall will be offered on Amazon's Amazon Web Services.

Today's jump marks several days of incremental gains for the growth stock, pushing Fastly's stock 10% higher over the past five days. 

So what 

Fastly announced yesterday that its next-gen web application firewall will be available on the AWS marketplace for both public and private cloud services.

A woman pointing at a computer screen.

Image source: Getty Images.

The company said in a press release, "Fastly's addition to the AWS Marketplace allows businesses to quickly and efficiently access its WAF through a unified billing and procurement process, providing superior and comprehensive protection to fast-evolving tech stacks." 

Fastly investors are happy to see any new avenue for the company to grow its business after its outage earlier this summer. The outage brought down many large websites across the internet and caused the company to lose some customers. 

Now what 

While some investors have shifted their attention away from Fastly over the past several months, the company's share price is still up nearly 90% since the company went public in May 2019. And with today's gains, it appears that at least some investors are still optimistic about this tech stock. 

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Fastly. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool has a disclosure policy.

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