How The Trade Desk's Stock Tripled in 2020
Shares of The Trade Desk (NASDAQ: TTD) rose 208.3% last year, according to data from S&P Global Market Intelligence. The company, which operates a platform connecting digital media outlets with advertisers, benefited from explosive consumer interest in connected TV devices and services, where The Trade Desk is a leading seller of ad space.
The path to massive growth wasn't clear in the early going. The Trade Desk's revenue sputtered in August's second-quarter report, falling 13% year over year to trigger a 10% sell-off in the span of three market days. But the surging media market soon made it obvious that The Trade Desk has found a valuable ad-selling niche, and share prices started to climb again in September.
November's third-quarter report put the whole debate to rest with positive surprises across the board, including revenue 20% above Wall Street's consensus estimates and triple the expected earnings. The Trade Desk closed 26% higher the next day.
Source Fool.com
