Trade Desk stock price surges 20% due to CEO's increased holdings and OpenAI partnership news

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Investing.com – The Trade Desk (NASDAQ: TTD) stock surged 20% on Thursday after CEO Jeffrey T. Green disclosed a large-scale stock buyback.

According to Form 4 filed after the close on Wednesday, Green purchased 6 million shares between March 2 and March 4 at prices ranging from $23.49 to $25.08 per share. The total value of the purchase was $148,101,266.

This significant insider buying activity comes as The Information reports that The Trade Desk is in negotiations with OpenAI regarding advertising sales on the AI platform.

DA Davidson analyst Tom White commented on the progress of the OpenAI partnership: “For a stock that desperately needs positive news, this is a positive development — but it’s still too early to determine how much of a profit opportunity this could represent for TTD.”

Trade Desk’s stock has fallen 34% year-to-date and declined 62% over the past year.

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