How 2 Connected-TV Stocks Defied a Down Market on Monday

The stock market performed well last week, so it's perhaps not such a big surprise to see major market benchmarks pull back somewhat on Monday morning. Fears of inflation still persist among market participants, and it's unclear whether economic data supports the robust recovery that many have anticipated or whether a more sluggish trajectory back to pre-pandemic levels will keep the Federal Reserve from having to take aggressive action. As of 10:45 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 65 points to 34,691. The S&P 500 (SNPINDEX: ^GSPC) eased lower by 10 points to 4,220, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped just 2 points to 13,812.

Yet even as the rest of the market languished, a couple of stocks in the connected television space did quite well. fuboTV (NYSE: FUBO) has benefited from favorable trends in its TV platform business and the popularity of its stock, while Magnite's (NASDAQ: MGNI) increasing focus on connected TV as a key distribution channel for its programmatic advertising platform has many looking for a big payoff.

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Source Fool.com