When a company grows rapidly, stock price tends to overshoot and commands an extreme rich valuation. This was the case for TTD until Dec of last year. But when company's business growth slows down and future looks uncertain, the exact opposite will take place.
TTD's main business is online AD, and they have hit a wall in the AI era and growth is no longer what it was. Hence stock price is being punished.
The same thing could happen to any other high flying stocks in AI space if one day they stop delivering those amazing growth rate.
