Tax-loss harvesting is a common year-end method used by investors and money managers to minimize taxes.
The practice involves selling off losing positions to offset taxes on realized capital gains incurred on winning investments.
To find the names worth selling, CNBC Pro used its stock-screening tool to hunt for names with a market cap exceeding $1 billion.
The cloud platform company's stock has lost roughly 57% this year, with the average price target implying that shares could fall about 18%.
Back in August, he slashed his price target to $5.50 from $8.50, noting that Fastly took "a meat cleaver to CY24 outlook."
Persons:
Davidson, Rudy Kessinger, Fastly, cleaver, Carter's, Kennedy, Wilson, Platt
Organizations:
CNBC Pro, Arbor Realty Trust, Leggett
Locations:
Fastly