Why Roku, PubMatic, and The Trade Desk Stocks Popped Today
Let the news go forth: Inflation is down (sort of), and Wall Street is very happy about that.
On Thursday, the U.S. Department of Labor announced that consumer price inflation in October was only 7.7%. This number was down from last month's, below analyst predictions and the "lowest annual increase since January" according to CNBC. These observations combined to kindle a broad stock market rally this morning. As of 10:45 a.m. ET, shares of streaming services provider and streaming ads provider Roku (NASDAQ: ROKU) were up 10.6%, while digital ad vendors PubMatic (NASDAQ: PUBM) and The Trade Desk (NASDAQ: TTD) were gaining 12.1% and 19.6%, respectively.
The Labor Department report couldn't have come at a better time (for advertising industry stocks). Just one day ago, The Trade Desk suffered an 8% sell-off after warning that fourth-quarter revenue might fall short of analyst expectations, and the evening before, rival PubMatic warned of an even steeper shortfall in its Q4 revenue -- costing PubMatic stock a 14% loss.
Source Fool.com
