Why The Trade Desk, Criteo, and Magnite All Fell Today
Shares of The Trade Desk (NASDAQ: TTD) tumbled on the company's earnings report this morning, taking down shares of peers like Criteo (NASDAQ: CRTO) and Magnite (NASDAQ: MGNI) along with it.
As of 12:35 p.m. EDT, The Trade Desk was down 20.4%; Criteo was off 5.4%, and Magnite had fallen 16.3%.
The Trade Desk's results topped estimates and it offered strong guidance for the second quarter. The company even announced a 10-for-1 stock split. However, the performance seemed to fall in the category of good, but not good enough, as high expectations were built into the stock after shares tripled last year on accelerating momentum into ad technology. That trend benefited The Trade Desk, which runs a leading cloud-based, self-serve, demand-side platform (DSP), allowing advertisers to allocate and monitor ad budgets across multiple channels.
Source Fool.com
