Why The Trade Desk Fell Yet Again Today
Shares of The Trade Desk (NASDAQ: TTD) were tumbling again on Tuesday, following yesterday's big sell-off. As of 12:15 p.m. EDT today, shares were down 4.7%, and are now down about 12% week-to-date.
Yesterday, shares were rocked by the announcement that Chief Financial Officer Alex Kayyal, who had been appointed to the role just five months ago, was fired over the weekend. While shares fell on the news, today's subsequent downgrades by not one but three sell-side analysts sent shares another leg lower.
On Monday, The Trade Desk announced that CFO Alex Kayyal would be leaving the company, with Chief Accounting Officer Tahnil Davis replacing Kayyal while the company looks for a permanent successor.
Source Fool.com
