Why Digital Turbine Stock Is Plummeting Today
Digital Turbine (NASDAQ: APPS) stock is seeing big sell-offs in Tuesday's trading. The advertising technology company's share price was down 17.7% as of 2:45 p.m. ET.
Digital Turbine stock is getting hit hard today following 's recent fourth-quarter report. While Baidu actually delivered sales and earnings for the period that beat Wall Street's expectations, the company reported weakness for its digital advertising businesses.
Baidu is a leading provider of search engine tools, applications, and digital advertising services in the Chinese market. Accordingly, the company's performance can be a bellwether for other companies in the digital advertising space. Digital Turbine provides a platform for user acquisition and monetization for apps and has significant exposure to the Chinese market, and Baidu's report today could signal headwinds for the business.
Source Fool.com
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