(CNN) Fastly (FSLY) shares plunged nearly 30% Thursday morning after the company said that demand from its largest customer — TikTok’s owner, ByteDance — « did not meet expectations. That « disclosed largest customer » is ByteDance, which accounted for 12% of Fastly’s sales during the second quarter of 2020, according to the company’s most recent filing with the Securities and Exchange Commission. Still, the threat of a TikTok ban has loomed large, and CEO Joshua Bixby has acknowledged the potential loss in revenue if Trump’s orders were to go into effect. Fastly was one of the pandemic’s top-performing companies , havingrisen more than 350% on the Nasdaq in 2020. Still, the threat of a TikTok ban has loomed large, and CEO Joshua Bixby has acknowledged the potential loss in revenue if Trump’s orders were to go into effect.

Source: Cameroon Daily Journal October 15, 2020 20:37 UTC