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Why Magnite Stock Jumped This Week

TheMotleyFool

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Shares of Magnite (NASDAQ: MGNI), a supply-side adtech platform, were moving higher this week as strong earnings reports from peers like The Trade Desk (NASDAQ: TTD) and Roku (NASDAQ: ROKU) lifted expectations for the company's own earnings report next week.

According to data from S&P Global Market Intelligence, the stock had gained 17.2% for the week as of Thursday afternoon at 2:29 p.m. ET.

There was no major company-specific news out on Magnite, but strong earnings reports from The Trade Desk and Roku created a rising tide in the adtech industry as beaten-down stocks in the sector rose on hopes that the ad market would soon turn around.

Source Fool.com

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