Stocks Slide Ahead of Fed Meeting

The stock market tumbled on Monday, as investors braced for a possible rate hike from the Federal Reserve.

Overall, S&P 500 declined 1.3% to 4,018, while NASDAQ fell 2.0% to 11,394.

Tweet of the Day

Chart of the Day

Our chart of the day is the one-year chart of DoubleVerify (DV) as of January 13, 2023, when the stock was at $24.

DoubleVerify is a software platform for digital media measurement and analytics, helping companies increase their return on digital advertising investments. The company checks to see if ads are placed at appropriate places, making sure there isn’t any bot fraud.

DV is delivering solid results in a challenging environment for advertisers. Management claims in a weak economy, ads must be efficient, which is why demand is staying strong. Last qtr, DV delivered 20% profit growth on 35% revenue growth. The company landed more new clients last quarter than the prior two quarters combined. In addition to new clients, DV is achieving growing product usage, especially from new clients who signed up during the past 12 months.

DV is part of the Growth Portfolio and Aggressive Growth Portfolio.

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