CRTO - Why Criteo Stock Popped Today
Shares of Criteo (NASDAQ: CRTO) have popped today, up by 13% at the close, after the broader indexes rebounded amid ongoing market volatility driven by the coronavirus pandemic. There was no company-specific news for Criteo today.
Investors continue to contemplate the possibility that the global economy will fall into a recession due to the outbreak, which has caused severe disruptions in daily life around the world. When Criteo, which develops ad tech tools for marketers, reported fourth-quarter results last month, it did not acknowledge any potential impacts of the coronavirus in its 2020 outlook, which calls for revenue excluding traffic acquisition costs to decline 10% this year and an adjusted EBITDA margin of approximately 30%.
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