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After a rocky few years, adtech stocks are soaring once again.
Shares of The Trade Desk, the sector’s star performer with a market capitalization of more than $36 billion, were trading up 206% this year through November 18. Magnite, the newly formed company from the merger between Rubicon Project and Telaria, was up 34%; bank-focused adtech outfit Cardlytics soared 79%.
Even French adtech company Criteo, whose stock has largely traded downwards over the past three years, was up 5%.
Overall, according to an analysis by investment bank LUMA Partners, adtech stocks are up 57% so far this year, based on the median average of those four stocks. Since March 24, as the pandemic took hold, those stocks are up 165%. By comparison, the S&P 500 is up around 10% so far this year.
Read more: Here are the 18 hottest adtech companies of 2019
The adtech rally flies somewhat in the face of trends at the beginning of the pandemic, when many advertisers hit pause on spending before spending started recovering around May. Moreover, with tough competition with Google and Facebook for digital ad dollars and a string of high-profile casualties in the space, investors had long turned their …read more
Source:: Businessinsider – Finance