What happened

Shares of The Trade Desk Inc. (NASDAQ:TTD) climbed 9.7% Wednesday despite no news regarding the precision digital ad targeting company.

So what

The S&P 500 and NASDAQ both had a reasonably strong day, hitting intraday records and closing comfortably higher. But there were no new Trade Desk press releases, analyst upgrades, insider purchases, or SEC filings of the sort that tend to drive significant upward moves like this one.

Stock ticker prices on a digital board


Now what

That said, the move did come on strong trading volume of roughly 2.33 million shares, which is nearly three times Trade Desk's daily average. This could potentially indicate a large investor opening or adding to a position ahead of Trade Desk's second-quarter report early next month. After all, shares skyrocketed nearly 30% in early May after The Trade Desk's first-quarter results crushed Wall Street's expectations. So it would be hard to blame investors for betting that an equally impressive Q2 report could deliver a similar positive reaction.

In the end, though, it's unclear exactly why The Trade Desk jumped today. And that's OK. Nothing has happened to change the perspective of long-term investors, and I continue to believe this company is a winner that will keep on winning.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.