Why The Trade Desk Stock Crashed Again
The Trade Desk (NASDAQ: TTD) stock is taking another beating today, and the culprit is Omnicom (NYSE: OMC) announcing a third-party audit of TTD's pricing practices. This review follows Publicis Groupe's (OTC: PUBGY) dramatic breakup with The Trade Desk last week over alleged hidden fees.
Cue the panic selling. The Trade Desk's stock fell as much as 9.9% on the Omnicom report in Ad Age.
Omnicom's initial contract review found exactly zero issues. The full audit is basically a "well, now we have to check" move after Publicis made a scene. They're even bringing in a Big Four accounting firm to run the deep review, so this won't be some velvet-glove treatment; if there's dirt, they'll find it. For the record, Omnicom's regular auditor is Big Four giant KPMG. The pricing audit may or may not involve a different accounting titan.
Source Fool.com
