Long Position on TTD @ $63.00 on 8/25/2022 (Momentum)

Trade Desk, Inc. (TTD) operates as an advertising technology company in the United States and internationally.  

The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

It also provides data and other value-added services. The company serves advertising agencies and other service providers for advertisers.

On August 9th, Trade Desk (TTD) reported 2nd Quarter June 2022 earnings of $0.14 per share on revenue of $377.0 million. The consensus earnings estimate was $0.20 per share on revenue of $365.2 million.  Revenue grew 34.6% on a year-over-year basis.

Since the report shares have formed a bullish "flag" and are expected to move higher from this formation.  

Entry Point: $63.00

Trading Range: $39.39 to $114.09

Stop Loss: $60.00

Target Price: $69.30

Position closed on 9/23/2022 at price of $60.00 with a -4.76% loss in 29 days.

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