Zoom has been dethroned.
While the videoconferencing company we’ve no doubt all used in the past three months has seen a massive 159% rally since its Feb. 19 market peak, Fastly, a cloud computing services provider, has gained over 222% in the same time frame—and now clinches the title of the best-performing work-from-home stock during the pandemic.
For most people, Credit Suisse’s Brad Zelnick argues, Fastly “was lost in the shuffle a little bit.” But now, it’s certainly “come to the forefront.”
Fastly is a content delivery network (CDN) company that helps users view digital content more quickly. The company also provides security, video delivery, and so-called edge computing services. Some of its biggest customers? Heavy hitters like Slack, Airbnb, Spotify, and Stripe, to name a few.