The Trade Desk, Inc. TTD

The Trade Desk sits at the crossroads of two unstoppable forces—advertising’s march toward automated, data-driven buying and streaming’s takeover of television. With a widening moat built on identity tech, AI bidding and neutrality, the company converts those trends into fat 80% gross margins and growing free cash flow. Lawsuits, stock-comp dilution and ad-market cyclicality keep the story spicy, but the current price seems to ignore a long runway of high-teens growth. For investors who can stomach some legal drama and macro swings, Trade Desk offers a rare blend of quality and mispricing.