Ad-tech stocks fall after Snap's warning on ad spend slowdown

Digital Turbine

22/07/2022 11:32

** Shares of ad-tech firms Trade Desk Inc  TTD.O , Digital
Turbine  APPS.O , PubMatic Inc  PUBM.O  and Taboola.com  TBLA.O 
fall between 3.9% and 6.8%
    ** Snapchat parent Snap Inc  SNAP.N  said on Thursday some
advertisers continue to face supply-chain disruptions and labor
shortages, and many others are contending with rising costs,
which has led to cutbacks in ad spending  urn:newsml:reuters.com:*:nL1N2Z22MN
    ** Brokerage RBC Capital Markets believes there are signs of
further ad spending cuts still to come
    ** Snap's results suggest a significant deterioration in
advertiser demand, says Piper Sandler

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))