Why Digital Turbine Stock Is Plummeting Today
Digital Turbine (NASDAQ: APPS) stock is seeing big sell-offs in Tuesday's trading. The advertising technology company's share price was down 17.7% as of 2:45 p.m. ET.Digital Turbine stock is getting hit hard today following Baidu's recent fourth-quarter report. While Baidu actually delivered sales and earnings for the period that beat Wall Street's expectations, the company reported weakness for its digital advertising businesses.Baidu is a leading provider of search engine tools, applications, and digital advertising services in the Chinese market. Accordingly, the company's performance can be a bellwether for other companies in the digital advertising space. Digital Turbine provides a platform for user acquisition and monetization for apps and has significant exposure to the Chinese market, and Baidu's report today could signal headwinds for the business. Continue reading
Digital Turbine (NASDAQ: APPS) stock is seeing big sell-offs in Tuesday's trading. The advertising technology company's share price was down 17.7% as of 2:45 p.m. ET.
Digital Turbine stock is getting hit hard today following Baidu's recent fourth-quarter report. While Baidu actually delivered sales and earnings for the period that beat Wall Street's expectations, the company reported weakness for its digital advertising businesses.
Baidu is a leading provider of search engine tools, applications, and digital advertising services in the Chinese market. Accordingly, the company's performance can be a bellwether for other companies in the digital advertising space. Digital Turbine provides a platform for user acquisition and monetization for apps and has significant exposure to the Chinese market, and Baidu's report today could signal headwinds for the business.
