Why The Trade Desk Soared Last Week

By Neil Rozenbaum – Jun 1, 2022 at 11:00AM

NASDAQ: TTD

The Trade Desk

Market Cap

$41B

Today's Change

(3.35%) $2.72

Current Price

$83.79

Price as of April 24, 2024, 4:00 p.m. ET

The company assured its shareholders that it is not experiencing any weakness following Snap's reduced guidance.

In this video, I will be talking about The Trade Desk (TTD 3.35%) and why I bought more shares after Snap's (SNAP -2.72%) announcement last week.

The global ad industry now stands at over $700 billion and is expected to hit $1 trillion by 2025. Gross spending on The Trade Desk's platform reached $6.2 billion in 2021, which is just a drop in the bucket.
The company reassured its shareholders by doubling down on its previously given guidance after Snap's reduced guidance announcement crashed most digital advertising stocks.
Q1 was yet another solid and profitable quarter for the company and there are no signs of it slowing down.

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*Stock prices used were the closing prices of May 27, 2022. The video was published on May 31, 2022.

Neil Rozenbaum has positions in The Trade Desk. The Motley Fool has positions in and recommends The Trade Desk. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.