The Trade Desk Slides to 177th in U.S. Volume Amid Antitrust Probes and Market Pressures

On September 25, 2025, The Trade Desk (TTD) recorded a trading volume of $660 million, ranking 177th among U.S. equities. The stock closed down 0.23% for the session, reflecting mixed sentiment amid evolving market dynamics.

Recent developments highlight regulatory scrutiny as a key risk factor. A U.S. Senate antitrust subcommittee is reportedly investigating The Trade Desk’s dominance in programmatic advertising technology, raising concerns over potential antitrust enforcement. The probe focuses on data licensing practices that could impact the company’s revenue model in the digital advertising ecosystem.

Industry observers note that the stock’s performance remains tied to macroeconomic signals. With Treasury yields stabilizing near 4.1% and the dollar index showing resilience, investors are recalibrating exposure to high-growth tech assets. The Trade Desk’s business model, which relies on ad-tech infrastructure fees, faces pressure from shifting client budgets amid economic uncertainty.

To run this back-test accurately we need to settle a couple of practical details first: 1. Universe definition • Do you want to look at all U.S. listed common stocks (NYSE + NASDAQ + Amex), or a narrower universe such as the S&P 1500 constituents? 2. Portfolio construction • Equal-weight across the 500 names each day, or volume-weighted? 3. Practical frictions • Is it acceptable to ignore transaction costs and slippage? 4. Data availability / platform scope • The current back-test module can process one security or one pre-defined basket at a time. To handle a daily-changing 500-stock basket we would first need to create a synthetic “Top-500-by-Volume” index from 2022-01-03 onward, then feed that index into the engine. • If you prefer, we can approximate by restricting the test to a fixed universe (e.g., the S&P 500) and re-ranking that universe each day—this keeps the data volume manageable and is usually a good proxy.