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Why Magnite Stock Lost 14% in July

·3-min read
Why Magnite Stock Lost 14% in July

Shares of Magnite (NASDAQ: MGNI) were pulling back last month as a pair of news items weighed on the ad tech stock even as the broad market rallied. First, Netflix made a surprising move, choosing Microsoft as its advertising partner, which includes using the tech giant's own ad tech platform, likely blocking out pure plays like Magnite. As you can see from the chart, it was a volatile month for the ad tech company.