U - The Growth Stock Rout Isn't Over for These 2 Companies
2023-11-10 09:23:01 ET
One thing that the current earnings season has shown is that it sometimes doesn't matter if companies meet the expectations that investors say they have about their financial results. In the current market environment, if a company can't show that it will grow its business quickly even despite the macroeconomic pressures across the globe, the stock price is vulnerable to steep declines.
That dynamic played out for a couple of companies on Friday morning. Even as major market index futures moved higher in the premarket session, shares of The Trade Desk (NASDAQ: TTD) and Unity Software (NYSE: U) plunged. Below, you'll learn more about what caused shareholders in these two tech-oriented companies to lose confidence and what the future might bring for them.
Shares of The Trade Desk plummeted 24% in premarket trading early Friday. The programmatic advertising-tech company reported third-quarter financial results that were generally better than many had expected, but its guidance for the remainder of the year raised serious doubts about the sustainability of its past growth rates.
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The Growth Stock Rout Isn't Over for These 2 Companies