The Trade Desk is set to be added to the S&P 500, effective soon, leading to a 14% rise in its stock price. It will replace Ansys, which is being acquired by Synopsys. The company has faced significant drops this year, with stock down 36%, following previous years of substantial growth. It has a market cap of $37 billion, indicating it is positioned in the middle of the S&P 500's valuation. Founded in 2009, Trade Desk has over 3,500 employees and competes with major players like Amazon and Google.
Shares of The Trade Desk jumped 14% in extended trading as the digital advertising company is set to join the S&P 500, replacing software maker Ansys.
Trade Desk has faced significant market challenges this year, with a 36% drop in its stock price, in contrast to a 61% increase in 2023.
With a market cap of $37 billion, Trade Desk's valuation places it in the middle tier of the S&P 500 as it prepares for its index debut.
The company, founded in 2009, went public on the Nasdaq in 2016 and currently employs over 3,522 individuals.
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