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Magnite Stock: Bear vs. Bull

Leo Sun, The Motley Fool
·5-min read
Magnite Stock: Bear vs. Bull

Magnite's (NASDAQ: MGNI) stock hit an all-time high of $64.39 per share during the Reddit-fueled "meme stock" rally last February. Magnite became the largest independent SSP (sell-side platform) for digital ads after it was formed by the merger of two smaller ad tech companies, The Rubicon Project and Telaria, in April 2020. At first, investors were impressed by Magnite's connected TV (CTV) business, which was growing at a much faster rate than its desktop and mobile ad businesses.

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