You've probably noticed Republican and Democrat candidates displaying their ads on popular streaming services. Here are some numbers showing how much each candidate has been spending. Last week Vice President Kamala Harris announced a $50 million paid media campaign ahead of the Democratic National Convention. Former President Donald Trump then responded with $37 million ad spend of his own the following Friday, with $23 million going to one state alone. It was the highest total for TV ads Trump's campaign has reserved on any single day in the entire 2024 election cycle. What does this mean for Trade Desk? Well, with both candidates going all-in on ad spend heading into November - I believe this could be a huge stretch for the ad streaming company. In fact, this has been proven throughout the last eight years for Trade Desk. Ever since the 2016 election, TTD's revenue has gone up from $200 million to $2 billion. TTD is also growing 20% per year on average and 2024 is already looking promising. Overall, the Zacks Consensus Estimate projects TTD to rake in $2.42 billion in 2024, an 24% increase from last year. Action Plan: I'm currently holding TTD in Catalyst Cash-Outs through the 2024 election and it will remain one of my top watchlist picks for that time. To start receiving more trade ideas like TTD in realtime, click here to join today. |
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