Why PubMatic Stock Was Up Almost 20% Last Month
Shares of advertising-technology (adtech) company PubMatic (NASDAQ: PUBM) were up 19.7% in January, according to data provided by S&P Global Market Intelligence. And as of 1:30 p.m. ET on Friday, PubMatic stock is up 28% so far in 2023 and ahead of the 8% gain for the S&P 500.
The news was surprisingly thin for PubMatic in January. But I believe the stock was undervalued at the start of the new year, and maybe the market was waking up to this value proposition.
In early January, much of PubMatic's management exercised stock options and sold shares, which occasionally concerns investors. But many of these sales were part of a pre-scheduled sales plan called Rule 10b5-1. It's a common way for insiders to avoid the appearance of selling on insider information but still raise the money they need for personal finances.
Source Fool.com
