5 Reddit’s WallStreetBets Stocks That are Tumbling

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1. Fastly, Inc. (NYSE: FSLY)

Number of Hedge Fund Holders: 26   

Percentage Losses Over Last Five Days: 14.21%

Fastly, Inc. (NYSE: FSLY) is ranked first on our list of 10 Reddit’s WallStreetBets stocks that are tumbling. The company owns and runs a cloud platform and is based in California. In earnings results for the second quarter, posted on August 4, the firm reported earnings per share of -$0.15, beating market predictions by $0.03. The revenue over the period was $85 million, up close to 14% year-on-year but missing estimates by close to $1 million. The company has a market cap of over $4.7 billion and posted $298 million in revenue last year.

Recently, investment advisory Citi maintained a Sell rating on Fastly, Inc. (NYSE: FSLY) stock and lowered the price target to $33 from $46, noting that the second quarter results had worsened an already challenging year for the company.

At the end of the first quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Fastly, Inc. (NYSE: FSLY), down from 32 in the preceding quarter worth $1.5 billion. 

You can also take a peek at 10 Biotech Penny Stocks to Buy According to Reddit and 10 Cheapest Altcoins Popular on Reddit.

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