Here's Why PubMatic Stock Popped Today
Shares of advertising-technology company PubMatic (NASDAQ: PUBM) popped on Wednesday after it released its first quarterly earnings update. The company went public via an initial public offering (IPO) in December, and it's already feeling the love from investors. PubMatic stock was up 22% as of 11 a.m. EST today and hit all-time highs earlier in the session.
PubMatic is a sell-side advertising platform, just like better-known Magnite. And sell-side advertising is the other side of the equation from buy-side companies like The Trade Desk. Since PubMatic has exposure to a lot of high-growth industries like connected TV, its performance in 2020 was quite impressive. Full-year revenue increased 31% year over year to $148.7 million.
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Source Fool.com
