Today’s Research Reports on Trending Tickers: The Trade Desk and 3D Systems
U.S. markets slumped Tuesday, with the Dow Jones breaking an 8-day win streak, as interest rates surged to new highs. The Dow Jones Industrial Average declined 0.78 percent to close at 24,706.41, while the S&P 500 Index fell 0.68 percent to close at 2,711.45. The Nasdaq Composite Index dropped 0.81 percent to close at 7,351.63. The yield on the benchmark U.S. 10-year Treasury note touched 3.09 percent, the highest since 2011.
“In and of itself, 3% isn’t significant, but it is psychologically important, and it comes at an uncertain time for the equity market,” said Stephen Wood, chief market strategist for Russell Investments, according to CNBC.
“We’ve been in a good economic environment, but one that’s aging, and we’ve been seeing good earnings growth, although that cycle is also aging. Fundamentals aren’t improving enough to justify valuations, and when one considers that with the backdrop of a Fed that’s raising interest rates, the market will start re-rating its risk profile. You can expect that to last for a while, and for markets to be a lot more volatile as it goes on.”
RDI Initiates Coverage on:
The Trade Desk, Inc.
3D Systems Corporation
The Trade Desk’s stock jumped 7.07% Tuesday, to close the day at $80.22. The stock recorded a trading volume of 4,527,478 shares, which was above its three months average volume of 1,234,791 shares. In the last year, The Trade Desk’s shares have traded in a range of 40.70 – 80.97. The share price has gained 97.1% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $53.18 is above its 200-day moving average of $51.79. Shares of the company are trading at a Price to Earnings ratio of 69.76. Shares of The Trade Desk have gained roughly 53.41 percent in the past month and are up 75.42 percent year-to-date.
Access RDI’s The Trade Desk, Inc. Research Report at:
On Tuesday, shares of 3D Systems recorded a trading volume of 4,701,523 shares, which was above the three months average volume of 3,045,801 shares. The stock ended the day 5.48% higher at $12.89. The share price has fallen 45.61% from its 52 week high with a 52 week trading range of 7.92 – 23.70. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $11.31 is above its 200-day moving average of $10.37. Shares of 3D Systems have gained roughly 7.96 percent in the past month and are up 49.19 percent year-to-date.
Access RDI’s 3D Systems Corporation Research Report at:
Our Actionable Research on The Trade Desk, Inc. (NYSE:TTD) and 3D Systems Corporation (NYSE:DDD) can be downloaded free of charge at Research Driven Investing.
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