Laura Martin, Needham & Co. Senior Media and Internet Analyst, outlines how Big Tech investments in sports streaming and digital advertising could offset competition between streaming platforms.
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.
Recently, Zacks.com users have been paying close attention to Netflix (NFLX). This makes it worthwhile to examine what the stock has in store.