ROKU - How Shares of The Trade Desk Gained 30% in June
Shares of The Trade Desk (NASDAQ: TTD) rose 30.5% in June, according to data from S&P Global Market Intelligence. The surge started with a rosy business update from online ad services peer Criteo (NASDAQ: CRTO) and ended with a bullish analyst report.
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Digital advertising businesses of all stripes had expected revenue to fall in the second quarter as ad buyers scaled down their campaigns amid the COVID-19 pandemic. But Criteo's mid-quarter business update in early June showed stronger sales than expected, undermining the negative expectations in the ad sector. Criteo's stock closed 19% higher that day and The Trade Desk rode Criteo's coattails to a 12% single-day gain.