Why Magnite Stock Was Sinking at Double-Digit Rates This Week

During World War II, a common warning to keep potentially damaging quiet was implied by the common phrase "loose lips sink ships."Fast forward eighty-some years later, and we can apply that to the remarks of an executive at a key business partner of adtech company Magnite (NASDAQ: MGNI). These were taken to imply a sudden change in their relationship that was not beneficial to Magnite. The investor reaction was negative and lasting; according to data compiled by S&P Global Market Intelligence, the company's stock price was down by nearly 11% week to date as of early Thursday evening. In a digital media conference, Jamie Power, senior vice president of addressable sales at mighty entertainment company Walt Disney (NYSE: DIS), apparently said that her company no longer uses Magnite. Instead, it's utilizing platforms operated by Google parent Alphabet and digital ad specialist The Trade Desk. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool