A Bull Market Is Coming: 1 Perfect Growth Stock Down by 42% to Buy Hand Over Fist
Economic headwinds have been problematic for many ad-based businesses recently. Consumer demand has softened in response to high inflation and rising interest rates, so brands have naturally pulled back on their marketing spending. The Trade Desk (NASDAQ: TTD) has suffered as a result, with revenue growth slowing, and while its share price has rebounded somewhat in 2023, it's still down by 42% from its peak. But the company is well-positioned to soar when economic conditions improve and the next bull market comes along.
Here's why now is a perfect time to buy this growth stock.
The Trade Desk runs a demand side platform. Its software helps marketers plan and optimize data-driven ad campaigns across a variety of digital formats -- including desktop, mobile, and connected TV -- and measures their results. The Trade Desk is a much smaller company than the ad giants that lead the industry -- Alphabet and Meta Platforms -- but its platform packs superior technology. In fact, consulting company Quadrant Knowledge Solutions recently recognized The Trade Desk as the ad tech leader, noting that it outscored every other vendor on customer impact and technology excellence.
Source Fool.com
