At times over the past five business days, there was lively trading in digital adtech specialist The Trade Desk (NASDAQ: TTD). Unfortunately for the company and its investors, much of that trading consisted of sales.
On the back of a new partnership agreement signed by a well-capitalized rival, plus several analyst moves, the stock fell by more than 13% over the week, according to data compiled by S&P Global Market Intelligence.
News of that deal hit the headlines Wednesday morning, and it wasn’t good for The Trade Desk. Ubiquitous tech company/retailer Amazon and video streaming giant Netflix have partnered to offer advertisers utilizing the former’s demand-side platform (DSP) to gain access to the ad inventory of the latter. The arrangement is to start in the fourth calendar quarter of this year.