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Why Magnite Stock Plunged on Thursday

·2 min read
Why Magnite Stock Plunged on Thursday
In this article:
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  • MGNI

Shares of Magnite (NASDAQ: MGNI) stumbled out of the gate on Thursday, plunging as much as 18.5%. Magnite's revenue of $131.9 million was up 116% year over year, but that included the results of several acquisitions consummated over the past year. Magnite has focused heavily on connected TV (CTV) advertising over the past year.