Trade Desk Shares Decline Following Publicis Audit News
Trade Desk shares fell 6% after reports that Publicis advised clients against its platform. Analysts downgraded the stock over alleged contract violations.
Shares of The Trade Desk, Inc. tumbled on Wednesday as Wall Street analysts issued downgrades following reports that France-based advertising giant Publicis Groupe S.A. advised its clients against using the company’s media buying platform. The stock fell nearly 6%, adding to a 7.4% decline on Tuesday after Ad Age reported that a recent audit commissioned by Publicis found the ad-tech firm had violated multiple clauses of their service agreement.
The audit reportedly alleged that The Trade Desk charged multiple fees exceeding the limits of the agreement and opted clients into extra features without their consent. While Publicis has not officially responded to requests for comment, The Trade Desk has strongly disputed the findings.
