by Wolf Richter
Wolf Street
We have a special place in our heart for DoubleVerify because it blacklists WOLF STREET in the “brand safety” services it touts to advertisers.
Shares of DoubleVerify Holdings [DV] plunged 40% today, to $18.25 at the moment, after it had reported earnings last night. Shares are now down by 62% from their intraday high on June 29, 2021, and far below the IPO price of $27 in April 2021.
The ad-tech company has wedged itself between advertisers and internet publishers, trying to extract money from both for various services that it touts with dubious claims. Before today’s mishap, its market cap was $5.3 billion, now down by $2.1 billion, to $3.2 billion.