Why Trade Desk Stock Traded Lower Today
Portfolio Pulse from Ryan Gustafson
Shares of The Trade Desk, Inc. (NASDAQ:TTD) traded lower on Thursday, possibly due to weakness in Meta Platforms, Inc. (NASDAQ:META) after its Q3 results. Meta's Q3 revenue was $34.15 billion, above estimates of $33.57 billion, marking a 23% YoY increase. However, Meta's CFO mentioned that ad spending had been volatile in Q4 due to the Middle East conflict, which may have caused the downward trend. Trade Desk's stock was already struggling due to negative market sentiment caused by Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Q3 earnings report.
October 26, 2023 | 9:12 pm
News sentiment analysis
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NEGATIVE IMPACT
Alphabet's Q3 earnings report caused negative market sentiment, impacting shares of broader communication services stocks.
Alphabet's Q3 earnings report caused negative market sentiment, which impacted shares of the broader communication services stocks, including The Trade Desk. This shows that Alphabet's performance can influence the broader market trends and sentiments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Alphabet's Q3 earnings report caused negative market sentiment, impacting shares of broader communication services stocks.
Alphabet's Q3 earnings report caused negative market sentiment, which impacted shares of the broader communication services stocks, including The Trade Desk. This shows that Alphabet's performance can influence the broader market trends and sentiments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Meta's Q3 results were above estimates, but the mention of volatile ad spending in Q4 may have caused a downward trend.
Despite Meta's Q3 results beating estimates, the mention of volatile ad spending in Q4 by the CFO may have caused a downward trend in the stock. This shows that the company's performance is influenced by the broader market trends and sentiments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Trade Desk's stock traded lower, possibly due to Meta's Q3 results and volatile ad spending in Q4.
The Trade Desk's stock traded lower possibly due to the negative sentiment from Meta's Q3 results and the volatility in ad spending. This shows that the company's performance is influenced by the broader market trends and sentiments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100