Why The Trade Desk (TTD) Shares Are Trading Higher Thursday

The Trade Desk Inc TTD shares are trading higher Thursday after the company announced it will join the Nasdaq-100.

What Happened: The Trade Desk said it will become a component of the Nasdaq-100, the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index before the open on Monday. The company is set to replace Activision Blizzard Inc ATVI in those indices.

The change is independent from the Nasdaq's special rebalance, which will become effective on July 24. 

On Tuesday, TTD moved higher after Needham analyst Laura Martin reiterated the stock with a Buy rating and an $80 price target. The Trade Desk shares are up more than 12% over the last week.

See Also: Trade Desk Unusual Options Activity

TTD Price Action: The Trade Desk shares were up 4.66% at $88.40 at the time of writing, according to Benzinga Pro.

Photo: Pexels from Pixabay.