Fastly stock price hovered around $8

Fastly stock price hovered around $8.93 after an analyst downgrade. Despite this, fundamentals remain stable, with gross margins holding above 50%, which could cushion valuation dips. In the year-to-date period, Cloudflare shares have climbed 69.5%, while shares of Fastly have plunged 26%. The previous big move we wrote about was 14 days ago when the stock gained 3.6% on the news that investors scooped up equities, shaking off the initial concerns inferred from the Fed's dot plot, with tech stocks leading the charge. Fastly stock price inched up to $9.12 amid higher-than-average volume. This movement coincided with speculation about potential enterprise deals in the pipeline, which could expand recurring revenue streams.