CRTO - Why The Trade Desk Magnite PubMatic and Criteo Stocks Were Down Double Digits This Week
Shares of many advertising-technology (adtech) stocks got crushed this week, including demand-side platforms (DSP) The Trade Desk (NASDAQ: TTD) and Criteo (NASDAQ: CRTO) , and supply-side platforms (SSP) Magnite (NASDAQ: MGNI) and PubMatic (NASDAQ: PUBM) . As of market close on Thursday, these four stocks were down 10%, 10%, 17%, and 13%, respectively, for the week.
These stocks were down due, in part, to a deal between Netflix and Microsoft . Investors had expected one of these other ad-tech stocks to be the beneficiary of Netflix's move toward ads. Analysts also weighed in on a couple of these stocks, adding more downward pressure. But a couple of these companies actually had some good news this week that was overshadowed by the Netflix news, which we'll look at now.
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Why The Trade Desk, Magnite, PubMatic, and Criteo Stocks Were Down Double Digits This Week