Trade Desk Ignites Retail Buzz As Stock On Track For Best Day In 2 Months On News Of S&P 500 Inclusion

Shares of demand-side adtech platform provider Trade Desk, Inc. (TTD) soared nearly 15% in Tuesday’s early premarket session, on the news of their inclusion in the S&P 500 Index.

S&P Dow Jones Indices, a division of S&P Global, said in a statement that Trade Desk would replace Ansys, Inc. (ANSS) in the broader S&P 500 gauge, effective before the opening of trading on Friday, July 18.

The proposed move follows Ansys's acquisition by Synopsys (SNPS), which is expected to be consummated on July 17.

The S&P 500 Index, a market-cap-weighted index, is considered the best single measure of large-cap U.S. equities, comprising 500 leading companies and covering approximately 80% of the total market capitalization. The eligibility criteria for addition to the index include a market cap of $22.7 billion or more.

If Trade Desk stock’s premarket gains are sustained in the regular session, it is on track to have its best day since early May, when the company reported its first-quarter results.

On Stocktwits, retail sentiment toward Trade Desk stock turned ‘extremely bullish’ (91/100) by early Tuesday from the ‘bullish’ mood seen a day ago, with the message volume climbing to an ‘extremely high’ level.

The 24-hour message volume on the Trade Desk stream spiked 18,700% leading up to late Monday.

Trade Desk was among the top 10 trending tickers on the platform early Tuesday.

A watcher expressed bullishness on the imminent index inclusion. Sharing a technical chart, they said, “I will be watching this main diagonal trendline now as the level to get over. If broken, we could see this thing drift back up into triple digits soon. Long overdue IMO.”

Another bullish watcher reshared their post from early June, in which they signaled rebuilding positions in the Trade Desk stock and their forecast for a likely move to over $80 by the stock despite the Amazon (AMZN) threat. 

“S&P inclusion lit a fire on this, congrats bulls,” they said.

Trade Desk stock, however, is down nearly 36% this year.

Mobile ad tech platform AppLovin Corp.’s (APP) stock fell over 1.50% in the premarket session after the company failed to make it to the S&P 500 Index. Robinhood Market, Inc.’s (HOOD), which has seen a strong stock run this year, was also snubbed, with the retail trading platform’s shares slipping 0.68% in premarket. 

A Stocktwits poll conducted earlier this month, asking users which stock they wanted to be added to the S&P 500, found that a majority (61%) picked Robinhood. It is worth noting that Trade Desk was not given as an option in the poll.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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