Does Magnite Stock Really Have 50% Downside Risk?
After suffering a rout early last year, shares of Magnite (NASDAQ: MGNI) spent the rest of the year riding high, gaining more than 275% to close out 2020. But the programmatic advertiser's stock came crashing down today in the wake of a short report issued by Spruce Point Capital Management.
The short-seller suggests Magnite shares could crash as much as 50%, citing a high valuation, growth headwinds, and merger related challenges. It the wake of the report, Magnite shares tumbled as much as 15% before rebounding.
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Source Fool.com