On this episode of Stock Spotlight, Michael dives into The Trade Desk ($TTD), the demand-side platform at the heart of programmatic advertising. With deep integrations, a founder-led culture and a commitment to neutrality in a world of walled gardens, TTD has become the go-to tool for agencies and brands navigating the open internet.
But even a king has its challenges. Despite strong free cash flow, high gross margins and tailwinds from CTV and digital spend, The Trade Desk faces valuation risk, elevated SBC and intensifying competition from ad giants like Google and Amazon. Michael walks through the business model, key metrics, competitive landscape and valuation — and shares why $TTD is on his watchlist, but not in his portfolio (yet).
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00:00 Intro
00:37 Investment Checklist & Database
01:17 Business Overview
13:13 Industry Overview
21:06 Quality Growth Profile
25:07 Financial Statement Overview
29:47 Management & Ownership Structure
34:34 KPIs to Track
35:25 Valuation & Technical Analysis
40:55 Verdict
42:00 Outro
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Intro Music: Andrey Rossi – Seize the Day
Outro Music: Ra – Prospect
*Music provided by Uppbeat Premium
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Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.
