TMTB: TTD First take

TTD -23%: Rev and EBITDA miss / Q1 EBITDA guide down

This is pretty much TTD’s first top line miss on a Q since they began reporting. Sentiment has taken a turn for the worse to start 2025 and this was shorted by HFs, but still this miss is only going to fuel bear concerns over structural issues, AMZN DSP competitive issues, etc. and at 60x+ P/E, valuation is in the midst of being re-rated from a compounder darling —> a stock with significant structural concerns.There were still plenty of LT bulls on the stock. Kudos to DaRazor (@akramsrazor) on X who spent the last day calling out structural issues co was facing.