Trade Desk Bets on Growth to Justify a 67% Selloff

The Trade Desk faces a pivotal test after a 67% year‑long decline, as Q3 revenue rose 18% year over year with strong client retention and Kokai, its AI ad engine, boosting efficiency. Management guides Q4 revenue around $840 million with roughly $375 million in adjusted EBITDA, implying ~17–18% growth, which the market must see sustained to justify the rally. Investors are weighing whether the drop is a rational repricing or an early sign of a slower growth trajectory as fears about AI disruption fade and leadership remains confident in the road ahead.