Benzinga | Dec 8, 2020 12:55PM EST

Why Fastly's Stock Is Trading Higher Today

Fastly Inc. (NYSE:FSLY) shares are trading higher on Tuesday. The stock spiked Friday following vague takeover chatter from Street Insider. Representatives from Fastly declined to comment on the rumor.

Fastly was founded in 2011 and operates an edge cloud platform for processing, serving, and securing its customer's applications. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the Internet.

The company was formerly known as SkyCache and changed its name to Fastly in May 2012.

Fastly shares were trading up 15.18% at $98.40 at the time of publication. The stock has a 52-week high of $136.50 and a 52-week low of $10.63.