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No. of Recommendations: 12
Fastly (FSLY) first showed up in Tech Growers in May this year, which is when I started a pretty big position at average prices around $42 per share. The stock got as high as $129 recently, before dropping 30% last week on a pre-announcement warning of lower sales than expected this Q.

When FSLY hit $116 in early August, I did an analysis showing that while Zoom and Shopify were reasonably valued back then, that Fastly appeared extraordinarily expensive. Here's that analysis:

I waited a few days before pulling the Sell trigger, and got out of the position entirely at around $84 yesterday, which is a gain of 100% from my original purchase. My decision was based on this article by an analyst who found evidence that Fastly's biggest customers, like Shopify and Tik Tok are reducing their use of FSLY, and going to alternate CDNs like Cloudflare.

With the cash from the sale, I bought equal-size positions today in Cloudflare (NET) and Sailpoint Software (SAIL). Both of these have TTM revenues around $340M, and are growing those revenues, in a recurring manner, at about 46% YoY.
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