AcuityAds stocks peaked at $26.17 in February, and the stock is now down nearly 90% from the high. It's not surprising to see the stock crash after the recent earnings report, especially as the company had blamed slow revenue growth last year and weakness with its travel and hospitality customers.
Full Answer
What happened to social media stocks Thursday after Facebook plunged?
· The downside was due to lower revenues from Card Services segment. Operating expenses increased 1.1% year over year to $1 billion. Operating income decreased 15% year over year to $337.3 million...
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Why did Meta Stock drop 26% Thursday?
· Shares of the ad tech company AcuityAds Holdings (ATY-0.66%) were more than 23% lower as of 12:15 p.m. on Wednesday after the company reported third-quarter earnings results. So what
A weak earnings report sent the ad tech stock plummeting
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What happened
Shares of AcuityAds ( NASDAQ:ATY) took a dive last month, after the Canadian ad tech company posted disappointing results in its third-quarter earnings report.
So what
AcuityAds stock dropped 26% on Nov. 3, after the company posted sluggish growth in its third quarter, and the stock continued to decline from there as investors soured on the stock.
Now what
AcuityAds stocks peaked at $26.17 in February, and the stock is now down nearly 90% from the high. It's not surprising to see the stock crash after the recent earnings report, especially as the company had blamed slow revenue growth last year and weakness with its travel and hospitality customers.
What happened
Shares of many companies that specialize in targeted online advertising stumbled and fell on Wednesday. Ad-buying platform giant The Trade Desk ( TTD -4.16% ) dropped 12.8%, sell-side specialist Magnite ( MGNI 4.37% ) sank 12.8%, and ad retargeting expert Criteo ( CRTO 1.90% ) slumped 1.6%.
So what
Ad-targeting companies such as Criteo, The Trade Desk, and Magnite rely on so-called third-party browser cookies for their data gathering and organization efforts, particularly when ad campaigns are shaped around the specific browsing behavior of specific web users.
Now what
It's no surprise to see ad-tracking stocks taking Google's updated privacy plans right on the chin. At the same time, Temkin also said that online advertising will continue to be important to both users and businesses in the future, just with a different set of user-specific privacy expectations.
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