Got $500? Buy This Tech Stock During the Market Correction
Last week, The Trade Desk (NASDAQ: TTD) announced strong earnings. Sales growth accelerated to 37%, and adjusted profit came in at $1.41 per diluted share, up 57% from first-quarter 2020. Even so, Wall Street wasn't impressed and the stock dropped over 20%.
That plunge came atop a more prolonged sell-off, leaving shares 45% off their 52-week high. But rather than dwell on those losses, think of this as a buying opportunity. Here's why.
The Trade Desk is the leading independent demand-side platform (DSP). In other words, unlike Alphabet's Google and Facebook, the company doesn't own any content platforms or sell any ad inventory. It works solely on the buy-side, giving marketers tools to programmatically (i.e. automatically) purchase ad space and launch data-driven campaigns across display, video, audio, social, and mobile channels.
Source Fool.com
