Trade Desk shares slump after slower Q2 revenue growth

** Shares of ad-tech firm Trade Desk TTD.O plunges 38% to $54.75 in early trading; set for biggest single-day pct drop on record

** Co reports sharp slowdown in Q2 rev growth on softer demand for its digital advertising services in the connected TV market

** Q2 rev rose 19%, down from 26% in the year-ago quarter

** At least 11 brokerages trim PTs on the stock after results, with BofA Global Research double downgrading stock rating to "underperform" from "buy"

** "We worry about competition from Amazon and others, although it's unclear how material this dynamic has been to reported numbers (yet)" - Piper Sandler

** TTD on average is rated "buy" by 40 brokerages; their median PT is $84, as per data compiled by LSEG

** YTD, stock down ~53%