Fastly Inc. a content delivery network that acts as an internet intermediary, has emerged as the best-performing tech stock outpacing Zoom Video Communications Inc, ZM , a company that has been often in the limelight in the work-from-home era.
What Happened: Fastly made its debut in May 2019 and opened for trade at $21.50. Last week, the stock clocked gains of 36%. On Monday, Fastly shares rose by nearly 15%.
Since the recent market highs on Feb 19, Fastly has zoomed past Zoom as shares surged 222%. In the same period, Zoom rose 159%.
Why It Matters: As people take to working from home, the underlying technology of Fastly is being used by companies buoyed by the trend.