Why Akamai Stock Tanked Today
Shares of Akamai Technologies (NASDAQ: AKAM) tanked today, down by 12% as of 11:15 a.m. EST, after the company reported fourth-quarter earnings. The results topped expectations, but Akamai also announced a corporate reorganization. "I am very proud of how the Akamai team supported our global customers and billions of internet users who relied on the internet more than ever before during the COVID-19 pandemic," CEO Tom Leighton said in a statement.