1 Way The Trade Desk Stock Could Mount a Big Recovery in 2023
It seems that the computing and information technology sector forgot about its greatest strength: the ability to grow with little additional overhead expense. The beauty of a software-based business is that a product can be built once and be cheaply and easily maintained, while being copied and sold countless times. The main limiting factor is getting a software service marketed and sold.
For years, software companies were "eating the world" via this lucrative business model, but many of them overhired and expanded well beyond their means during the pandemic. As a result, tech layoffs began in 2022 and are poised to continue well into 2023. Thus far, it appears The Trade Desk (NASDAQ: TTD) hasn't fallen into this trap even as many of its peers have -- no layoffs have been announced at the digital advertising software company. Yet the company's shares did get beaten down during the bear market, so what could help The Trade Desk stock begin a recovery in 2023?
Many software companies were absolutely clobbered by the market in the past year, and The Trade Desk was no exception. Shares closed out 2022 down over 50%. Ouch!
Source Fool.com
