Why The Trade Desk Stock Skyrocketed in November
Shares of The Trade Desk (NASDAQ: TTD) gained 38.1% in November, according to data from S&P Global Market Intelligence. The bulk of these stellar returns fell on Nov. 8, when the digital advertising specialist delivered an analyst-stumping earnings report.
The Trade Desk's third-quarter sales came in at $301 million, 39% above the year-ago reading and 6% above Wall Street's consensus estimates. Adjusted earnings fell from $1.27 to $0.18 per share, but your average analyst would have settled for $0.15 per share.
The stock closed 29.4% higher that day as investors embraced the concrete evidence of healthy business trends. Another 9.4% surge followed the next day when several analysts issued their glowing reports on the third-quarter update.
Source Fool.com
