Trade Desk Stock Headed for Worst Day Ever After Earnings

Core Insights - Trade Desk Inc (NASDAQ:TTD) experienced a significant decline of 39.2%, trading at $53.68, following a second-quarter earnings miss and slower revenue growth, despite revenue exceeding expectations [1] - The company announced a change in CFO, with Alex Kayyal replacing Laura Schenkein, and CEO Jeff Green highlighted potential impacts of tariffs [1] Analyst Reactions - BofA Global Research downgraded Trade Desk stock from "buy" to "underperform," while Wedbush and Citigroup downgraded to "neutral," and MoffettNathanson reduced its rating to "sell" [2] - The stock faced multiple price-target cuts from various analysts [2] Stock Performance - This marks the second significant post-earnings drop for TTD in 2023, following a 32.9% drop in February, potentially leading to the largest single-day percentage drop in the company's history [3] - The stock is currently down approximately 54% year-to-date and is trading at its lowest levels since May [3] Options Activity - The equity has seen an unusual volume of options trading, with 227,000 calls and 156,000 puts exchanged, which is 6.2 times the typical volume [4] - The most popular option is the weekly 8/8 50-strike put, with new positions being opened [4] - Trade Desk stock has been placed on the short sell restricted (SSR) list due to increased volatility [4]