Why The Trade Desk Was Down 33% in March
Shares of The Trade Desk (NASDAQ: TTD) plummeted 32.8% in March, according to data provided by S&P Global Market Intelligence. With a drop like that, you'd expect there to be some big news bombshell, but the company didn't announce any negative news during March. It seems this is simply a case of a richly valued growth stock selling off hard due to the bear market ushered in by the COVID-19 pandemic.
While The Trade Desk didn't release any news in March, there is evidence that advertising budgets are being cut due to the coronavirus, which could have a negative effect on The Trade Desk's business.
Image source: Getty Images.
Source Fool.com
