This Famous Investor Just Bought The Trade Desk After the Stock Plunged. Should Investors Follow Suit?
Shares of The Trade Desk (NASDAQ: TTD) were absolutely obliterated after the adtech company reported its second-quarter earnings and announced the departure of its CFO. The stock fell nearly 40% the next trading session, although one famous investor used the pullback to buy shares.
Cathie Wood of Ark Invest, which runs a number of exchange-traded funds (ETFs) focused on technology and innovation, was out scooping up shares. The Trade Desk is a smaller position in her flagship fund, but it is notable that she was out buying the dip.
The question is whether investors should follow suit. Let's take a look at the company's recent earnings report to find out why.
Source Fool.com
