Fastly Plummets After Tension Over ByteDance Curbs Sales October 14, 2020 Preliminary third quarter sales trailed previous forecasts Shares sank 30% in late trading, driving cloud peers lower Fastly Inc. plunged in late trading after saying that Chinese internet giant ByteDance Ltd., its No. 1 customer, spent less than predicted in the third quarter on cloud computing services as a result of rising U.S.-China trade tension. Shares of other cloud providers, including Akamai Technologies Inc., Datadog Inc. and Cloudflare Inc., fell in tandem. https://www.bloomberg.com/news/arti...third-quarter-sales-forecast-misses-estimates _____________________________________ What is that, a 2MM miss on a company that does $250 million in revenue with a yoy ttm revenue growth of 60%?!! Bingo! This is what happens when companies trade at 32X forward sales with no FCF. I go back to my lemon-aide stand theory. Whatever on that. The slightest hiccough and its game over. Oh well... ...Hello Robinhooder's.... "this is the front-desk with your wake up call". Welcome to the game. EDIT: Wheres @S2007S lol?
https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-2969#post-5226748 https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-2969#post-5226749