Why PubMatic Shares Fell 24% Last Month
Shares of PubMatic (NASDAQ: PUBM) fell 24% in July 2021, according to data from S&P Global Market Intelligence. The digital ad-tech expert was due for a sharp correction after soaring 32% higher in June. The stock took July's haircut with grace, slowly floating down as the days rolled by.
The online advertising market is going through some structural changes these days. A few web browsers have already flipped the switch to disable third-party tracking cookies, which help marketers and their technology partners track the effectiveness of their ad campaigns. The leading browser, Alphabet subsidiary Google's Chrome, has installed the cookie-killer switch already but will not enable it by default until 2023. That updated deadline, which was originally expected to fall in January 2022, was the main reason for PubMatic's gains in June.
PubMatic didn't do much to cement those gains, quietly watching the stock slide back down toward the share prices of late May.
Source Fool.com
