Yesterday, I made Trade desk 80% of my portfolio for the long term 5+ years. If you truly know what you own and have conviction in the business, short-term volatility becomes noise. The market can test your patience, but great companies reward investors who think in years, not days.
95% of customers are sticking around, top clients are still growing, and smaller advertisers keep spending more.
Streaming is growing, international business remains strong, and they’ve got over $1B in cash with zero debt.
The CEO put $150M of his own money into the stock.
The Publicis issue is now behind them, and
Publicis is recommending TTD to clients again.
No company grows at the exact same rate every year. Some years will be slower, especially when management is changing strategy, but that doesn’t mean the business is dying. I believe growth will start accelerating again as the new strategy gains traction.
One of the biggest advertising companies in the world trading at these levels is absurd to me.
This is the same company. The same long-term opportunity. Just a much cheaper stock than when it was trading at $140.
The market may have changed its opinion, but the business is still here.
That’s why I’m still holding and buying more.
NFA