Here's Why PubMatic Stock Was Up 32% in June
Shares of advertising-technology company PubMatic (NASDAQ: PUBM) were up 32.1% in June, according to data provided by S&P Global Market Intelligence. A significant portion of these monthly gains came after Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google made an announcement that rocked the entire ad-tech space. But the stock also gained with some bullish notes from analysts.
On June 24, shares of PubMatic and other ad-techs popped when Google made an announcement about third-party cookies. Cookies are online identity trackers and are important for making targeted advertising work well. These stocks had gone down when Google said it was doing away with their cookies. But in late June, Google said that it will keep these cookies until 2023, giving more time for PubMatic and its peers to find a work-around.
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Source Fool.com
