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Why Magnite Stock Dropped This Week

TheMotleyFool

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Why Magnite Stock Dropped This Week: https://g.foolcdn.com/editorial/images/722264/bearded-person-at-desk-by-computer-taking-notes.jpg

Ad technology specialist Magnite (NASDAQ: MGNI) underperformed a declining market this week. Shares were down 19% through early afternoon trading on Friday compared to a 2.9% slump in the S&P 500, according to data provided by S&P Global Market Intelligence. Yet Magnite's stock is still running ahead of the market so far in 2023.

This week's slump came after the company updated shareholders on its Q4 earnings results on Wednesday afternoon.

Source Fool.com

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