Core Insights - The Trade Desk's stock is experiencing significant declines, down 12.1% following news of Netflix's integration with Amazon's DSP and a downgrade from Morgan Stanley [1][5] - The Trade Desk has been the worst-performing stock in the S&P 500 this year, facing challenges from competition, particularly from Amazon [3] - The partnership between Netflix and Amazon will enhance Amazon's DSP attractiveness to advertisers, further complicating The Trade Desk's competitive landscape [4] Company Performance - The Trade Desk's growth has slowed, leading to poor stock performance in two of the last three earnings reports, raising concerns among investors [6] - Morgan Stanley downgraded The Trade Desk's rating from overweight to equal weight and reduced its price target from $80 to $50, citing "mounting headwinds" [5] Competitive Landscape - Amazon is emerging as a significant competitor in connected TV, having signed a deal with Roku and integrating its DSP with major streaming services [7] - The collaboration between Netflix and Amazon represents a strengthening of "walled gardens," which poses a challenge for The Trade Desk [4]