Shares of ad-tech company Criteo (NASDAQ: CRTO) popped on Thursday because the company is reportedly preparing to restructure its business. And investors apparently approve of this development: The stock rose 10% for the day.
According to Business Insider, around 2,600 of Criteo's employees are going to be affected by the restructuring, although it's unclear if they will be laid off. But the bigger news here is that the company is reportedly getting ready to change a major component of its business. Until now, it's relied on third-party browser cookies to make sure people are shown relevant ads. But it now seems ready to move on to something else.
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Source Fool.com