The Trade Desk – Oversold, Misunderstood, and Too Cheap to Ignore

about 1 month ago

"It’s been a tough stretch for The Trade Desk (TTD) in most of 2025, with shares down 64% YTD and 67% over the last twelve months. For years, TTD held a leadership position in the open internet and CTV ad-tech stack, but that dominance has come under question. Amazon’s recent ramp-up of its DSP efforts, integrating Prime Video inventory and signing a major CTV ad deal with Netflix, has sparked fears that TTD’s opportunity set is shrinking. There’s no denying that, at least at first glance, the TTD investment thesis has become more complicated."

It’s been a tough stretch for The Trade Desk (TTD) in most of 2025, with shares down 64% YTD and 67% over the last twelve months. After years of near-flawless execution, the company’s stock has come under heavy pressure this year as a mix of adverse developments sparked concerns about its long-term competitiveness in the increasingly crowded digital advertising industry. For one, growth has slowed meaningfully. After years of 25%+ expansion, revenue growth has cooled to the high teen

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