Why Magnite Stock Soared 62% Last Month

Shares of Magnite (NASDAQ: MGNI), the supply-side ad tech specialist, soared last month as analysts lined up behind the growth stock, sending it even higher after a surge in November.

Though there was little news on the company, the analyst endorsements and excitement around the ad tech space were enough to help the stock rise 62% in December, according to S&P Global Market Intelligence.

As you can see from the chart below, the gains came entirely in the third week of the month.

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Source Fool.com