Benzinga | Oct 19, 2021 12:13PM EDT

Why Fastly Shares Are Rising

Fastly Inc (NYSE:FSLY) shares are trading higher by 6.3% at $47.57. The company was granted a US patent titled 'Load balancing across origin servers.'

Shares of several companies in the broader technology sector are also trading higher as investors anticipate earnings reports from major companies this week.

Fastly is also trading higher by 12.9% at $47.82 over the past five sessions.

Fastly operates a content delivery network (CDN), which is necessary for entities to provide faster and more reliable online content. Fastly's strategy differs from traditional CDNs, which focused on locating servers in as many locations as possible to store copies of files that consumers most use.

Fastly has a 52-week high of $122.75 and a 52-week low of $33.87.