Stock market today: Dow, S&P 500, Nasdaq edge higher as Wall Street eyes Trump moves on Fed
Trade Desk (TTD) stock fell by more than a third during premarket trading on Friday after CEO Jeff Green warned that tariff uncertainty began to weigh on some leading global advertisers.
If losses hold, the decline in Trade Desk stock would wipe out more than $12 billion from the company’s market capitalization. The stock was off by 38% just after the opening bell.
The Trade Desk, which specializes in helping advertisers buy and optimize digital ad campaigns, has concentrated on large global advertisers, making them more vulnerable to tariff uncertainty.
“The impact of tariffs and related policies on these [large] businesses are very real,” Green said on the earnings call. “Most others rely heavily on SMBs, and our platform is largely concentrated on the large global advertisers. So we see the effects that are directly impacting them.”
“I would argue that this is a short-term negative,” he added, noting that the company’s focus on large companies “is almost always a positive, but just in this moment, it’s negative because of how uniquely they’re being affected by the tariffs and related policies.”
The Trade Desk’s second quarter earnings of $0.18 per share were in line with analyst estimates. Revenue of $694 million beat analyst estimates of $686 million, according to S&P Global Market Intelligence. The company expects third quarter revenue of at least $717 million, roughly in line with estimates.