Is Magnite Stock a Buy?
Magnite's (NASDAQ: MGNI) stock sank 16% on Nov. 4 to its lowest levels of the year after the ad tech company posted a mixed third-quarter earnings report. But did the market overreact and create an attractive buying opportunity for long-term investors? Let's unpack the key points to find out.
Magnite, which was created by the merger of The Rubicon Project and Telaria last April, is the world's largest independent sell side platform (SSP) for digital ads. SSPs help publishers and digital media owners manage and sell their ad inventories.
Magnite has been relying heavily on acquisitions to expand its connected TV (CTV) business, which should benefit from the death of "linear TV" platforms and reduce its dependence on the desktop and mobile markets.
Source Fool.com
