Trade Desk tumbles, leads digital advertisers lower amid Meta meltdown

Liveramp Holdings

03/02/2022 14:15

** Shares of ad tech firm Trade Desk  TTD.O  down ~10%
before the bell in wake of Facebook-owner Meta Platforms Inc's
 FB.O  dour report
    ** FB plunging >20% and on course for its worst day as co
lost daily users for the first time  urn:newsml:reuters.com:*:nL4N2UD2FF
    ** Co blamed Apple Inc's  AAPL.O  privacy changes to its
operating systems, which have made it harder for brands to
target and measure their ads on Facebook and Instagram
    ** Other digital ad providers dropping: Digital Turbine
 APPS.O , PubMatic  PUBM.O  and Magnite Inc  MGNI.O  down ~8%
each, while LiveRamp  RAMP.N  off ~2%
    ** Social media stock also dragged down, including Snap Inc
 SNAP.N  slumping ~18% premarket with co slated to report its Q4
results Thurs after the bell
    ** YTD, Trade Desk's shares have fallen ~24% through close
on Weds and are roughly 40% off record highs hit in Nov
    ** Meanwhile, Wall Street futures down after Meta sparks
tech, growth stock rout  .N  

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))