Why The Trade Desk Stock Plunged to (Another) 7-Year Low Today

The Trade Desk stock plunged 5.8% to 7-year lows after HSBC downgraded it to 'reduce' with a $10 price target. The analyst cited dismal Q2 results with only 3% revenue growth and a 17% EPS decline, well below expectations. The company faces structural headwinds from AI-driven competition and a shift away from the open internet, its core business.