Why Magnite Stock Rocketed Higher on Thursday
Shares of Magnite (NASDAQ: MGNI) charged sharply higher Thursday morning, surging as much as 31.4%. As of 11:53 a.m. ET, the stock was still up 30.5%.
The catalyst that sent the adtech specialist soaring was a new big-name ad partner.
At the ad industry upfronts -- the annual advertising sales event for television and streaming platforms -- (NASDAQ: NFLX) dropped several nuggets that made waves. First, the company revealed that its less expensive ad-supported tier has quickly grown to 40 million global accounts just 18 months after its debut. Even more surprising, the tally is up from 23 million in January.
Source Fool.com
Netflix Inc. Stock
€64.25
0.220%
With 123 Buy predictions and 3 Sell predictions Netflix Inc. is one of the favorites of our community.
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