Trade Desk Stock Plunges on Weak Outlook as Ad Market Softens
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Trade Desk stock plunges 31% after weak revenue forecast, warning of softness in ad market.
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Forecast signals economic pressures weighing on ad spending by brands in industries like auto and consumer electronics.
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Trade Desk CEO says spending stabilized this month after declines began in October.
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Drop in Trade Desk stock also pulls down shares of other digital ad companies like Meta, Snap and Pinterest.
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Warning shows revenue rebound for digital ad market in 2024 may be premature amid uncertain macro outlook.