Why The Trade Desk Stock Is a Buy Despite High Inflation

Late last month, Snap told investors that the macroeconomic environment was deteriorating more quickly than expected. In a nutshell, rampant inflation has caused many businesses to reduce their ad budgets simply because rising prices and supply chain issues are likely to be a headwind to consumer spending. In response to Snap's warning, many investors decided to bail on the sector.

The Trade Desk (NASDAQ: TTD) was one of several companies swept away in the sell-off. With the dust now settled, the stock is down 55% from its high, but the macroeconomic situation could get even worse. In fact, the U.S. Department of Labor recently said inflation hit a new 40-year high in May. That news probably has some shareholders ready to run for the exit, but this is actually a great time to buy a few shares.

Here's why.

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Source Fool.com