1 Hot Tech Stock to Watch Next Week
Shares of The Trade Desk (NASDAQ: TTD) have been trading sharply higher over the last few days. Perhaps some investors are betting the digital-advertising tech company can be a standout next to many advertising peers that have seen their growth rates get slashed. For many companies, an uncertain macroeconomic environment has led to a contraction in advertising spend resembling ad-budget weakness during 2020, when COVID-19-related lockdowns around the world were greatest.
Investors will get some answers about how The Trade Desk is faring next week. The company is scheduled to report its second-quarter results on Aug. 9.
Concerns about a deteriorating advertising environment started gaining steam on May 23, when Snap (NYSE: SNAP) warned that the company would miss its revenue and earnings forecast for Q2, citing a macro environment that "deteriorated further and faster than we anticipated." The Snapchat parent's original guidance was for second-quarter revenue to increase at a rate between 20% and 25% year over year, but actual growth for the period ended up coming in at 18%.
Source Fool.com
