The Trade Desk to Be Removed from S&P 500 on September 21
The Trade Desk (TTD) is set to be removed from the S&P 500 index and will instead join the S&P SmallCap 600 as part of a quarterly reshuffling by S&P Dow Jones Indices. This change, effective September 21, comes after TTD's stock has fallen sharply in value—from $141 per share to around $14—resulting in a market cap drop from $69 billion at its peak in 2024 to just $6.78 billion today. The decision follows disappointing second-quarter results, with revenue growing only 3% year-over-year and adjusted earnings missing expectations. The company also issued weak third-quarter guidance, projecting a potential 12% YoY decline in revenue compared to strong growth the previous year. Despite CEO Jeff Green's comments about focusing on future opportunities, sentiment toward TTD remains highly negative. The removal from the S&P 500 could lead to increased selling pressure as funds rebalance their portfolios and investors anticipate further volatility before September 21.
Tickers: $TTD
Topics: earnings report S&P 500 removal S&P SmallCap 600 addition The Trade Desk