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Magnite Scores Big With fuboTV

TheMotleyFool

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Magnite (NASDAQ: MGNI) shares traded 3% higher on Tuesday, even as the Nasdaq composite fell 0.5% and the S&P 500 declined 0.6%. The stock's gain was probably driven by news from Magnite announcing that sports-first streaming service fuboTV (NYSE: FUBO) selected it to be the tech company's preferred partner for programmatically marketing its connected TV (CTV) ad spots to ad buyers. This was a big win for Magnite's supply-side purpose-built CTV ad tech platform.

Over the long haul, Magnite's move to cozy up with fuboTV may pay big dividends. After all, fuboTV isn't your average streaming-TV service. It's growing like wildfire.

Image source: fuboTV.

Source Fool.com

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