Here's Why PubMatic Stock Plummeted Over 42% in May
Shares of sell-side advertising platform PubMatic (NASDAQ: PUBM) plummeted 42.5% in May, according to data provided by S&P Global Market Intelligence. The company was only down slightly following earnings results in mid-May, which hardly accounts for the stock's subsequent rapid descent. Rather, it seems this big drop needs to be kept in context of how the stock has performed so far in 2021. Here's why.
It's hard to find an easy explanation for why PubMatic stock was down in May. After all, the only news the company had seemed to be good news. The company reported financial results for the first quarter of 2021 on May 13, beating expectations and raising full-year guidance. Moreover, of the analysts tracked by third party TipRanks, all believe the stock is going higher -- the lowest price target is $43 per share, implying better than 50% upside from where the stock trades today.
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Source Fool.com
