The Trade Desk Shares Spike 15% After Hours — Here's Why The Stock Is Trending Tonight
Trade Desk Inc. (NASDAQ:TTD) is trending on Tuesday, following the announcement of its inclusion in the S&P 500 index.
Check out how TTD stock is trading here.
What Happened: The Trade Desk’s stock price soared by 14.68% to $86.50 in after-hours trading on Monday, following the S&P 500 inclusion announcement. This development comes after the S&P Dow Jones Indices revealed that The Trade Desk would replace ANSYS Inc. (NASDAQ:ANSS) in the S&P 500, effective from the market open on July 18.
The stock of Trade Desk- a demand-side platform has been on a steady rise, with a previous close of $75.38. The company’s shares have been trading between $75.30 and $77.77, with a market cap of $37.07 billion.
See Also: This Is ‘One Of The Hottest Stocks In The Universe,’ Jim Cramer Says
Why It Matters: The Trade Desk’s inclusion in the S&P 500 index is a milestone for the company. This move is expected to attract more investors and increase the company’s visibility in the market.
Earlier in the month, Citigroup Inc. (NYSE:C) maintained a buy rating on The Trade Desk and raised its price target to $90. This was followed by a bearish move by financial giants, as revealed by Benzinga’s analysis of options history for Trade Desk TTD, which showed 44% of traders were bullish, while 48% showed bearish tendencies.
On the day of the S&P 500 inclusion announcement, The Trade Desk was among the top stocks that gained the attention of retail traders and investors.
Price in Action: According to Benzinga Pro data, Trade Desk stock closed at $75.43, down 0.07% on the day, before surging 14.68% to $86.50 during after-hours trading.
Benzinga’s Edge Stock Rankings highlight TTD has a standout Growth score of 97.91. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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