Why Magnite Stock Climbed 30% in October
Shares of advertising-technology company Magnite (NASDAQ: MGNI) climbed 30% in October, according to data provided by S&P Global Market Intelligence. The stock got a boost as investors digested big deals with media companies like Discovery and Disney. And advertising demand is demonstrably surging, leading to further investor optimism for the company's upcoming third-quarter results.
There's two sides of programmatic advertising, which is advertising tailored in real time to the consumer. One side is demand-side ad platforms that partner with brands. The other side is supply-side platforms like Magnite that work with media publishers to generate the most revenue for their ad slots. Magnite is an omnichannel platform, but a promising growth segment is in connected-TV (CTV) advertising. Therefore, any new CTV partner the company gains is good news.
Image source: Getty Images.
Source Fool.com
