Online news, media and entertainment company

Fastly shares plunge on worries about TikTok (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." In a preliminary third-quarter earnings report, the cloud computing service said it expects quarterly revenue of about $70 million to $71 million, which falls below analyst projections of $73.5 million to $75.5 million. The drop in revenue, the company says, is a result of the uncertainty surrounding President Trump's  TikTok ban . "Due to the impacts of the uncertain geopolitical environment, usage of Fastly's platform by its previously disclosed largest customer did not meet expectations, resulting in a corresponding significant reduction in revenue from this customer," the company wrote. That "disclosed largest customer" is ByteDance, which accounted for 12% of Fastly's sales during the second quarter of 2020