Shares of The Trade Desk plummeted 40% after reports of slowing growth and C-suite changes. Revenue increased 19% to $694 million, beating forecasts. The company projected $717 million in current quarter revenue, signaling a 14% growth rate. The CFO is stepping down, with a new CFO named. Bank of America downgraded the stock to Underperform and reduced the price target to $50. The stock has dropped 40% in the past year. Trade Desk emphasized product innovation and growth in retail media and connected TV segments. CEO Jeff Green highlighted a focus on integrating data and AI for better advertising results. Bank of America pointed out concerns about missed earnings and competitive pressures impacting long-term growth. The firm questioned the sustainability of the company’s premium valuation and growth prospects. Streaming ad market adoption and competition from Amazon could pose challenges for Trade Desk’s future growth.

Read more at Yahoo Finance: The Trade Desk stock crashes, falls 38% as growth slows, company replaces CFO