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Benzinga
Benzinga
Business
Henry Khederian

The Trade Desk Stock Is Sliding Wednesday: What's Driving The Action?

Trade Desk The Trade Desk Morgan Stanley Trade Desk Inc TTD Benzinga Edge
The Trade Desk, Inc.

Shares of ad-tech leader Trade Desk Inc (NASDAQ:TTD) are trading lower Wednesday after Morgan Stanley downgraded the stock to ‘Equal-Weight’ from ‘Overweight’ and cut its price target to $50 from $80. Here’s what investors need to know.

What To Know: The downgrade exacerbates recent bearish sentiment that has plagued the stock, which saw significant declines in August. Analysts have cited mounting competitive pressures from tech giants like Amazon and reports that partner Walmart may be distancing itself from The Trade Desk’s platform.

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