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Why Magnite Stock Was Up 22% in August

TheMotleyFool

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Shares of supply-side advertising technology platform Magnite (NASDAQ: MGNI) went up 22.4% in August, according to data provided by S&P Global Market Intelligence. The company is the combination of former Telaria and The Rubicon Project, and it reported its first combined quarterly results on Aug. 10.

Investors liked the developing trends in Magnite's business and sent the stock flying after the quarterly report. After the initial post-earnings pop, the stock essentially traded sideways for the remainder of the month.