The Trade Desk Stock Plunges Nearly 37%

(RTTNews) - The Trade Desk, Inc. (TTD) shares sank 37.24 percent to $55.44, down $32.90, possibly due to investor reaction to its second-quarter earnings released yesterday.

The stock opened at $56.72 and traded between $53.18 and $56.88, compared with its previous close of $88.33 on the Nasdaq. Trading volume surged to 62.2 million shares, well above the average of 10.9 million.

The company posted net income of $90.12 million, or $0.18 per share, up from $85.02 million, or $0.17 per share, a year ago. Adjusted earnings reached $203.07 million, or $0.41 per share, while revenue rose 18.7 percent to $694.03 million from $584.55 million last year.

The Trade Desk's shares have traded between $42.96 and $141.53 over the past 52 weeks.