Why Alphabet, The Trade Desk, and Roku Fell Today
Shares of digital ad leaders Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), The Trade Desk (NASDAQ: TTD), and Roku (NASDAQ: ROKU) were falling today, declining as much as mid single digits before recovering to a 1.8%, 2.8%, and 3% decline as of 1 p.m. ET, respectively.
There wasn't much company-specific news today, although one prominent analyst made a year-end prediction that 2023 would continue to see a struggling digital ad market, as higher interest rates strain the economy.
Of course, this isn't exactly a new revelation, as investors are increasingly in agreement that some sort of weak economy or recession will occur in 2023. In addition, given the large declines in these stocks this year, investors may be engaging in end-of-year tax-loss selling to mitigate their tax bills for 2022.
Source Fool.com
