# The Trade Desk's 10 Years on Wall Street

> The Trade Desk's stock plunged 91% from peak after decade of growth and AI ambitions.
- Title: The Trade Desk's 10 Years on Wall Street · Adweek | Shortify
- Summary: The Trade Desk's stock plunged 91% from peak after decade of growth and AI ambitions. The Trade Desk's stock dropped 91% from its 2024 peak as it navigates…
- Keywords: the trade desk, adtech, wall street, stock market, agentic advertising, programmatic advertising, open web, connected tv, retail media, ai tools, nvidia, sincera
- Source: Adweek — https://adweek.com/programmatic/the-trade-desks-10-years-on-wall-street-booms-busts-and-the-battle-for-whats-next
- Author: Kendra Barnett
- Published: 2026-09-30T15:33:46+00:00
- Read time: 2 min
- Topics: the trade desk, adtech, wall street, stock market, agentic advertising, programmatic advertising, open web, connected tv, retail media, ai tools, nvidia, sincera
## Founding and early promise
The Trade Desk began in 2009 as a neutral platform for advertisers to buy media programmatically across the open web.
## IPO success and growth
The Trade Desk went public in 2016 with a 67% stock surge and $203 million revenue, becoming the largest independent demand-side platform.
## China expansion and challenges
The Trade Desk entered China in 2018 with Alibaba, Tencent, and Baidu but faced regulatory hurdles and local competition.
## Pandemic boom and retail media
The Trade Desk grew revenue to $836 million in 2020 and partnered with Walmart for retail media targeting in 2021.
## OpenPath and AI innovation
The Trade Desk launched OpenPath in 2022 to connect buyers directly to publisher ad servers, boosting revenue to $1.58 billion.
## Kokai and market backlash
The Trade Desk's Kokai AI platform faced negative feedback in 2023, leading to a 23% revenue spike but delayed adoption.
## Netflix partnership and stock surge
The Trade Desk partnered with Netflix in 2024, boosting stock to $141 and a market cap of $69 billion.
## 2025 challenges and stock decline
The Trade Desk missed revenue guidance in February 2025, causing a 30% stock drop amid leadership exits and partner backlash.
## 2026 leadership exodus
The Trade Desk lost key executives including CMO Ian Colley and chief strategy officer Samantha Jacobson in 2026.
## Agentic advertising push
The Trade Desk launched agentic advertising tools in August 2026 to automate campaign building and optimization.
## Stock at 91% below peak
The Trade Desk's stock trades at $37.96, a 67.8% dip from its 2025 starting price and 91% below its 2024 peak.
## Market cap and cash position
The Trade Desk has a market cap of $5.8 billion and $1.5 billion in cash with no debt as of June 30, 2026.
## Future direction
The Trade Desk aims to prove agentic advertising can coexist with transparency and control through autonomous workflows.
## The Trade Desk's statement
The Trade Desk claims the best days for the open internet are still ahead, despite a 91% stock decline from peak.
## Key takeaway

The Trade Desk's stock dropped 91% from its 2024 peak as it navigates declining revenue, leadership exits, and a push toward agentic advertising.