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Why Magnite Plunged 34.8% in November

Billy Duberstein, The Motley Fool
·2-min read
Why Magnite Plunged 34.8% in November

Shares of Magnite (NASDAQ: MGNI) fell 34.8% in November, according to data from S&P Global Market Intelligence. The programmatic digital ad buying platform delivered earnings results that missed analysts' expectations, and also warned of soft trends and difficult comparisons in the current quarter. Adding additional pressure, high-multiple growth stocks were hurt when Federal Reserve Chairman Jerome Powell indicated the Federal Reserve may taper its bond purchases faster than expected, which would tighten financial conditions.

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