It’s a little less sunny in California these days – at least as far as The Trade Desk is concerned.
The Ventura-based independent DSP is less than a third as valuable as it was a year ago. It retains about one-tenth of its high-water market cap from December 2024, when the company was worth almost $70 billion. TTD is also slated to be removed from the S&P 500 on Sept. 21 and bumped to the S&P SmallCap 600 instead.
Relatedly, last week CEO Jeff Green announced a 15% company-wide layoff, following a disappointing Q3 when The Trade Desk lowered its earnings forecast for the rest of the year.
The most important question for The Trade Desk is: Why is this happening?
The DSP contender POV
