The Trade Desk Shares Surge as Co-Founder Dave Pickles Returns
The Trade Desk Inc. shares rose 16.6% on Monday as the company recalled co-founder Dave Pickles to lead AI strategy ahead of its third-quarter earnings report.
Shares of The Trade Desk Inc. surged as much as 16.6% on Monday, November 9, 2026, driven by the return of co-founder Dave Pickles and anticipation of the company's third-quarter financial results. Pickles, who previously served as chief technology officer until 2023, is returning to lead a newly formed CTO council focused on AI-powered advertising workflows and agentic capabilities.
The rally follows a severe downturn in which the stock fell approximately 89% since late 2024, dropping from a 52-week high of $45.50 to around $13. The company has struggled with slowing growth and missed revenue floors in the second quarter of 2026, where revenue grew only 3% to $715 million and adjusted earnings per share fell 17% to $0.34.
To stabilize operations, the company initiated a 15% workforce reduction in September, expecting severance charges between $39 million and $51 million. Management previously forecasted third-quarter revenue of at least $650 million, a 12% year-over-year decrease, and guided for non-GAAP adjusted EBITDA of approximately $160 million. Investors are now focusing on fourth-quarter guidance, connected TV expansion, and the integration of NetAcuity data from Digital Envoy to improve audience targeting.
